The outgoing governor of the Bank of England has issued a warning over George Osborne's plan to boost the hou...
Choose a location
Enter your postcode or click the map
Why are we asking this?
You can listen to Smooth Radio across the UK, so we want to provide you with information that best suits your region. You won't need to set your location next time you visit.
Select upto 6 subjects
Quick guide... to mobile payment
Payment. It's the term used to describe any monetary transaction performed with a mobile device, like a phone. For example, buying some music online, or an e-book. Or, more increasingly, your travel tickets, clothes or weekly shop.
With my phone?
Yes, the technology is becoming increasingly widespread and it might not be long before we no longer need cash or credit cards for most of our purchases. All you'll need is your phone which, with some systems, would just need to be held near a sensor to make payment.
Why would I use it?
Simplicity is one of the main reasons, as is security. If you're not carrying cash or cards, you can't lose them or have them stolen from you. It's also useful for things like theatre or cinema tickets. Instead of having a small piece of cardboard to take, you can just buy them online and present the voucher on your phone when you arrive at the venue.
But someone could still steal my phone.
Well, yes, that's true, but there are measures you can take to make sure your data can't be accessed even if your phone is stolen.
What if I don't have a phone or it runs out of battery while I'm out shopping?
These are all good points and as we say, this isn't something that's going to take over tomorrow. It could prove useful for big purchases but it's unlikely your local paper shop will be adopting a mobile payment system anytime soon. Cash will be around for a long time yet, so hold on to your wallet for now.
Join the conversation
why not save time filling in forms and let us do it for you...
You're logged in with facebook.
More from Smooth Radio
Find out all the ways you can listen to Smooth - ranging from analogue to DAB radio, online, mobile and TV
A selection of gifts and gadget ideas to help ease you into autumn.
There are so many holiday gadgets to choose from, we thought we'd make the choice that little bit easier!
We take a look at this clever little gadget - ideal for Fathers' Day!