Few Consumers Are Buying Premise of Mobile Wallets
The New York Times posted an article addressing the efforts to move toward a more technological way of life. The newest efforts include the use of mobile wallets has the market looking for a boost in consumer spending. Though extremely rocky, there have been substantial jumps in online purchases from 2011 to 2012. Creating an easier way for consumers to pay for items, like the use of wallet apps, would increase spending globally. This could also have some averse effects if fraud sparks with these apps; in this case spending would decrease.
I'm confused by your interpretation. Mobile payments have increased dramatically over the past few years. With devices such as Square, PayPal, and Bitcoin, it will only be a matter of time before cash is nonexistent and physical credit cards are a time of the past.
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