Around four in 10 Britons believe that innovations in technology will enable them to do away with their wallets by 2025, a survey has found. The Payments Council’s findings also suggest mobile payments will become an increasingly mainstream option, with seven out of 10 expecting to use this method in 13 years. Just over half of the 4,000 adults surveyed expect to be able to pay by scanning their thumbprint by 2025. Ian Pearson, who produced a report for the council examining the possible future of payments, said security concerns could limit the possible use of this as it is relatively easy to get hold of someone else’s fingerprints. The security of this method might be improved if used alongside with printing unique electronic information onto a fingernail, he suggested. His report, Pay Your Way 2025: It has started work on a central database that links mobile phone numbers to bank account details.
