BIS central bankers’ speeches  1  The one area where there has been less progress than we might have expected in 2012 is “mobile wallets” for point-of-sale payments, i.e. where a consumer’s card or account information is incorporated into a phone application and the phone becomes the consumer’s payment device. Of course, this may well change quickly at some point.
So innovation is proceeding. It would seem premature to expect that we have seen the apogee of technological development in the payments space. More likely it will continue, in ways that are impossible to predict, but are likely to be “disruptive” – the adjective of choice these days. But there is a key caveat here.