I have been reading many of these kinds of articles lately, and each one seems less effective than the previous. For every article where a writer posits the end of cash and the retail machine that stores it, another is written about the challenges mobile payments have. Regardless, the idea of cash registers being replaced for good certainly makes for a good headline.
Unfortunately, I don’t think the idea can be a reality for some time.
It’s not paper money itself that is the biggest roadblock to m-commerce right now, it’s plastic. Consumers are showing a reluctance to ditching their credit cards in favor of mobile devices currently, and with current security flaws in phones it is no surprise.
Just don’t pay much attention to the idea of cash machines dying off right now. While there are huge advantages to Square and Google Wallet, I think mass adoption is further off than most people think.
Chris Murman 