The iPhone 5 could replace your wallet
I have a Credit Card with something called payWave. This is a little chip in the card, which means you can simply tap it on a reader and pay for items with entering a Pin or swiping the card. The idea is it means you can really quickly buy things that have a small cost such as a coffee or a Newspaper if you are in a rush.
The same technology is used on London's public transport system. The Oyster Card can be topped up with cash (just like a pay as you go mobile phone) and you 'tap' your way onto a bus or through a barrier to get on the Tube or train.
The technology here is known as Near Field Communication or 'NFC'. For some time now analysts and bloggers have looked forward to a time when NFC capability would be in all our mobile phones or watches. Just as many of us rely on our Debit Card instead of Cash now, this could eradicate the change in your pocket, with us using our Mobiles to pay for small purchases.
There is currently much speculation that Apple will add this to the next iPhone 5 or the iPad 2. This could potentially allow you to pay for a can of Orange Tango halfway through a game of Paper Flight HD. Although this technology is available now with say Barclaycard, it hasn't broken into the mainstream as a general way to make contactless payments. Sure, it's out there and I have used my Credit Card to get a Pret Hot Chocolate more times than my conscience should of allowed me, but you don't see payWave readers in anywhere close to the prevalence that Chip & Pin has.
Perhaps Apple could be the ones to change this though? If retailers knew that everyone with an iPhone 5 (or even an iPad 2, even if the prospect of waving it at the barman in your local seems about as attractive as an old Ford Scorpio) could use it to buy a pint in their local or grab a sandwich or magazine, surely they would flock to add this capability? Is it that far sighted to imagine adding credit to your iTunes account to spend when out and about? You can already credit your iTunes with vouchers or songs, so it's not a massive change for Apple.
It's not that far sighted to think that Apple could be the brand that gives this technology a push into the mainstream. Look how it is has put MP3's in your pocket. Companies also have so far been very keen to accommodate being on the iOS platform, such as YouTube offering H264 video or the BBC with iOS dedicated iPlayer streams.
Here's to a Beer and a Burger paid for by my iPad 2