A wealth of wallets

 http://www.economist.com/node/21554744

 

The increased use of smartphones and the falling cost of computers had lead to the success of mobile payments. Smartphones provide consumers with powerful computing devices and internet connections that are always on. Digital payments pose a serious threats to banks as consumers will be able to manage funds online without having to go to their branch.

1 Comment »

  1. sudahs Said,

    December 12, 2012 @ 4:19 am

    Are smartphones the reason why many businesses have been on a decline? If you think about it, smartphones contain calendars, calculators, internet, an countless other applications that serve the same purpose as individual items you can purchase in a store. I feel as though eliminating many competitors from a market can affect the equilibrium price and encourage these larger companies to monopolize.

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