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Saad D

// Cell Phone Alternatives to Cash // Credit Card companies around the United States are developing scanners that plug into cell phones. For a small fee, cell phones can be turned into a small portable credit card processor. The cell phone scanner is only made available to certain phones at the moment. Once it becomes more popular, I am certain it will overtake the use of cash, and give a new meaning to Gen - Y users. Instead of hunting down a ATM for cash to pay a debt to a friend, they can just swipe and transfer money. It makes this process so much easier to use.

The small businesses will rely on using this method for transactions, and anyone who might need to pay a debt on the go. Credit Card companies make their profit with each swipe. They will charge a small fee for each transaction, which could deter Gen - Y from using it, but could come in handy when it is really needed. I am impressed that the Credit Card companies integrate a sm all piece of technology into a cell phone to generate revenue and to make Gen - Y's life a little easier.

“Older people still tend to like to use cash or checks,” Mr. Abernathy said. “Younger people don’t want to touch a piece of paper. They want to do it all electronically.”