Leave Your Credit Cards At Home
By: Seth Fiegerman

Wouldn’t it be nice to slim your wallet and leave your credit cards at home? Or better yet, just get rid of them all together?

Well, a new mobile application promises to be the next step in making this a reality.

ShopSavvy, which is available on Android-based phones and the iPhone, bills itself as a tool to help users “bridge the gap between shopping online and shopping at the store.”

The New York Times reports that shoppers can “use the phone’s camera to scan an item’s bar code in a store to see if it is available for less online. If so, the shopper can buy it with one click.”

The application relies on PayPal, a service that has helped many companies digitize purchases and even paychecks. PayPal may play an even greater role in the future of virtual transactions.

"What we’re trying to do and what we think is very important is to displace the use of cash or checks,” Scott Thompson, the president of PayPal, told The Times. “We’ll just have one wallet, and it lives in the cloud.”

We just hope that cloud is under lock and key so our information doesn’t rain down everywhere.

In the meantime, some credit card companies are working on this goal, too.

Earlier in the year, Visa introduced a system for cell phone payment that allows users to scan their phone in place of swiping a card. This tactic of mobile phone payments has become popular in Asia. The service will likely be available in the U.S. later next year.

—For more ways to save, spend, invest and borrow, visit MainStreet.com.

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