Have you heard that some people want to get rid of cash? Yes, money.
Some economists say people lose billions of dollars due to theft and by misplacing dollar bills. Heck, some banks don't accept cash deposits anymore due to money-laundering concerns.
Meantime, cybersecurity experts say digital money can be safer than cash transactions. Hackers can steal your bank account information, credit cards and tax returns. It's much more difficult for them to break through encryption to steal digital funds.
Plus, it's more convenient to pay digitally than with cash or cards. You're probably already paying digitally, if you use your bank's online bill pay service, for example.
Maybe you send your grown kids money using PayPal so they can pay their rent. Or maybe you use it to send your grandkids money for their birthdays.
Now, the next generation of digital payments is right in your hand. You can use your Android smartphone or iPhone to digitally pay for everything from groceries, restaurant bills, your dry cleaning and a lot more.
Note: Keep reading for three ways to use your smartphone to make payments. But, first, let's talk about security.