On a scale of 1 to 10, how attached would you say you are to your smartphone? Me? I am about an 8. Pretty attached. But how far would you actually take that dependency? Would you treat your smartphone as your wallet? In other words, use the device to transact for every day purchases? Grande mocha, gas at the neighborhood station, $100 in groceries and maybe a new pair of shoes? Studies show that this trend – the mobile wallet – is NOT going away anytime soon. When it comes to applications, retail held the biggest share of the mobile wallet market in 2011, contributing $144.8 billion to global revenues. (http://bit.ly/ZRFUE9). 
So, if we are all sincerely attached to our smartphones, how willing are you to connect your bank account with its use? To date, there has been a lot of buzz about the security concerns surrounding the idea, but companies like Visa and others have been attempting to alleviate these concerns and educate the consumer about the technology.
According to a recent Harris Interactive survey, more than 60 percent of users under the age of 35 expect the devices will eventually replace cash and credit cards. The race now is to create a single point-of-sale device that will allow merchants to accept any mobile payment application a consumer wants to use. Will you be a business on the leading edge of this digital cash?





