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Will iPhone 5 have Pay-by-Phone Option?

By Jason Beahm on February 28, 2011 | Last updated on March 21, 2019

Are you tired of carrying around credit cards? So are your clients.

Good news for you and your practice: we may be getting closer to the day when they are no longer necessary. Thanks to a technology emerging in the U.S., soon we might all be able to pay using our cell phones. That's good news, because not only might that make your life more convenient, it could make it easier for your clients to pay you for legal services.

One of the top growing technologies this year is near field communication, or NFC. By adding an NFC chip into a cell phone, manufacturers give you the ability to use your phone at any tap-to-pay credit card machine. Right now, they are found most frequently at retail stores, but the day isn't far off where they could be widespread, TIME reports. You could soon have one sitting on your desk at your law office.

In fact, according to one report, the iPhone 5 will have an NFC chip inside it. The report also suggests that Apple may be building its own payment network so they don't have to rely on Visa or Mastercard. Either way, the iPhone 5 is not the only phone that will have NFC. Many people weren't even aware that the Google Nexus S phone and several Nokia handsets have NFC chips inside, TIME reports.

So how could you use this to positively impact your office? It's already well known that consumers like to pay with credit cards. Accepting credit cards at your law practice often allows people to pay up front when they otherwise would not be able to do so. By giving clients a tap-to-pay option, you make it even easier for everyone.

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