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Mobile usage is definitely on the up - thats plain to see to anyone. Whether or not you can tie the increase in usage to the death of cards is questionable.

I, for example, have two mobile phones yet have never used either for performing any transactions - not even online banking. Banks and payment schemes are slow to adopt new technology so even supposing there is a solution that is fully mobile I cannot see the Banks replacing their use of cards in 5 years time. I know (think) your model doesn't involve banks but I don't see a new entrant coming into the finance space and having such a major impact in such a short window, without collaborating with Banks.

I also cannot see the majority of the population adopting this method of payment in such a short space of time. I am fairly 'tech savvy' but I wouldn't use this method of payment in place of my cards. I may use it as a companion product for certain circumstances but I cannot see the day when I would have a wallet containing no cards. Nevermind my parents and the rest of their generation who are still coming to terms with paying by plastic.

My children are of pre-school age, I predict their generation will still have cards and cash as the dominant payment method.

Dean,

Do you honestly believe that in 5 years 'cards will have all but disappeared'?

This is the boldest of your claims yet. Mobile and Internet will continue to grow, I have no doubt in that but for cards to be replaced in such a short space of time, I don't think so.

I know very little/nothing about cheques but I was speaking to a printer earlier in the week who advised that an average cheque costs £0.30 each!

If thats true the costs can quickly stack up for a bank, a book of 30 would be £9. Not that cheap really..