This news story from Reuters is no surprise. Japanese credit card companies are forming an alliance which will allow consumers to use their phones in lieu of their credit cards. This alliance will be defining the standard first, after which “QUICPay” scanners will be installed at retail locations. In light of the WSJ report in August (here), I agree with the Reuters article that this is a response to the DoCoMo and Sumitomo Mitsui Card Co. alliance — as it says, they are notably absent from this new alliance.

How central is the mobile phone poised to become in consumer’s lives? Very. There will come a day when we leave our wallet at home and don’t bother to go back to get it because we have our phone — or maybe we won’t have leather wallets anymore, just leather carrying cases for our phones.