As technology invades every aspect of our lives, a recent PayPal report ‘Money: The Digital Tipping Point’ stated that by 2016, Brits would no longer need cash, checks or credit cards to go shopping as more retailers would be able to accept mobile payments, even if you’re physically in the store, online, or anywhere.

According to Carl Scheible, Managing Director of PayPal UK, “We’ll see a huge change over the next few years in the way we shop and pay for things. By 2016, you’ll be able to leave your wallet at home and use your mobile as the 21st century digital wallet. Our vision of money is to enable you to pay for something from wherever you are, whatever device you’re on – a PC, mobile phone, tablet, games console and a whole lot more.”

“The lines between the online world and high street will soon disappear altogether. Children born today will become the UK’s first ‘cashless generation’. It will be completely natural for them to pay by mobile.”

One example of PayPal’s claim is the PizzaExpress iPhone app that allows diners to pay for their food with the app, its payments powered by PayPal. The nifty app combined with PayPal’s secured payment service.

App developers are focusing on making secured mobile payments methods to ease consumers’ transition into the digital paying method.  It’s becoming an important function for many apps, incorporating convenience and added capabilities for certain services.  PageOnce, for example, recently added the ability to pay your bills directly from their personal finance app, centralizing your credit card management and budgeting around a highly individualized product.  The new feature looks to be a big hit with Pageonce users–they’ve already paid out $1 million in bills since launching Bill Pay about a month ago.

Though in-app payments are still settling in, another technological advancement will soon add to the mobile payments tred.

Near Field Communication tech is gaining attention, as app makers are working hard to figure the best way to make things ridiculously easy for consumers.  Mobile app payments for in-store purchases require a few steps at the least, but with NFC, paying for food or goods is as easy as taping your device on a sensor.  Even hone manufacturers and chipmakers are anxious to make their devices NFC-capable, building out an ecosystem that’s most likely to be overshadowed by Google and Apple.  Though Apple has yet to offer a mobile payment service for developers, nor a wallet or NFC-capable device, their patent portfolio suggests they’re working in the right direction.