The introduction of contactless payment methods is a question of 'when', rather than 'if', according to the Association of Payment Clearing Services.

Jemma Smith, spokesperson for the organisation, said there is no doubt that communications are going to impact on a payments level at some point in the future.

"Putting a chip into a mobile or SIM would enable you to either make payments or to do things which might expect to do at a cash machine," she continued.

"There are already lots of things happening out there in the market place; one of them is the use of phones to make payments."

Ms Smith added that when communications impact on a payments level, market developments are likely to be supply driven.

Juniper Research predicts that moves by banks and mobile operators to deliver financial services through the mobile phone will lead to over 612 million mobile phone users generating over $587 billion worth of financial transactions by 2011.




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