Apps are helping smartphones become digital wallets
Smartphone apps will soon let you pay for just about anything, whether you're online or at the register. Banks and credit card firms are partnering with wireless carriers and others to push the device further into global commerce.
The plan is to turn your phone into a digital wallet that will let you pay for just about anything, whether you're online or at the register. By 2016, mobile payments are expected to reach $617 billion worldwide, a nearly sixfold increase from last year's $105 billion, according to research firm Gartner Inc. By then smartphones are expected to account for close to two thirds of all U.S. mobile phones.