Why Haven't Mobile Payments Replaced Your Wallet Yet? Well, This Reason, for One

I, for one, can't wait to abandon my wallet forever. There are enough things in my pockets as it is.

We've all been hearing the buzz around mobile payments for years now. So why, exactly, am I still lugging around all these credit, debit, ID, and other cards? 

I asked this very question recently to Brandon Workman of Business Insider Intelligence. According to Brandon and his colleagues at Business Insider, the answer lies in distribution. 

For the technology to really go mainstream, it needs consumer-side products to support it (cue Square and PayPal (subsidiary of eBay ), it needs infrastructure to transmit the data (looking at you, MasterCard and Visa ), and it needs vendor-side hardware to close the loop (uh, hmm... VeriFone ).

In the interview below, I ask Brandon not only where the current logjam is but also which companies are best positioned to profit when the tech matures into a mainstream payment option.

Technology is revolutionizing every aspect of the financial system
The golden age of banking is dead. But if you want to learn how to take advantage of the impending bank renaissance, click below to discover the one company leading the way. You see, this fast-growing company is poised to disrupt big banking's centuries-old practices. And stands to make early investors like YOU a fortune... if you act now. Our brand new investor alert Big Banking's Little $20.8 Trillion Secret lays bare every banker's darkest secret for the world to see. Simply click HERE for instant access!

Have a comment or question about real estate, banks, or financial stocks?  and leave your question or comment.

The article Why Haven't Mobile Payments Replaced Your Wallet Yet? Well, This Reason, for One originally appeared on Fool.com.

Fool contributor Jay Jenkins has no position in any stocks mentioned. The Motley Fool recommends and owns shares of eBay, MasterCard, and Visa. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story