Phones are evolving so fast they will soon be the only thing in our pockets. Like how they destroyed the MP3 player, we'll have our drivers license, credit cards and car keys all on different apps. The keychain companies will take a hit, but think about always having open pockets for other things.
Another downside would be if you jump in a pool with your phone and now you've lost your keys wallet and cell all at once. From someone who lost 2 phones and a wallet this summer it was really nice to still have my keys. At least the swiping motion we are so used to is sticking around. The phones have a sensor that only activates within four centimeters, so we'll be waving our magic mobiles at something to buy our groceries.
One of the more surprising companies offering this mobile payment platform is ISIS. ISIS was founded by an unusual team consisting of AT&T, T-mobile and Verizon. These competitors probably know if they want to compete in this new market they have to team together to take on companies like VISA and Google. I can't wait until I have this technology and I don't have to worry about where my credit card is, I can just call it. [Via]