1 Thing to Always Remember About Mobile Payments

The shift to mobile payments is coming. But there is one thing investors must need to know about what to make of it.

The recent TRANSACT14 conference, which allowed individuals, institutions, and investors, to get a better glimpse into the future of the payments industry.

At it, executives from Bank of America Merchant Services -- a Bank of America (NYSE: BAC  ) and First Data joint venture -- Wells Fargo  (NYSE: WFC  ) discussed the major changes coming to the payment landscape from the standpoint of the acquirers -- essentially those who act as the middlemen in the processing of a payment -- sat down to discuss their vision for the future.

While the discussion surrounding the payments industry spanned far and wide, from the potential changes as a result of new technology, of which the Bank of America Merchant Services executive said he was "excited" to witness, to concerns surrounding data breeches. In fact, all of them noted the Target data breech may one day be a good thing

Yet there was one critical takeaway everyone needs to remember surrounding the shifting payment landscape, and in the video below Fool contributor, Patrick Morris, outlines exactly what that is.  

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These executives, and many others understand the plastic in your wallet is about to go the way of the typewriter, the VCR, and the 8-track tape player. When it does, a handful of investors could stand to get very rich. You can join them -- but you must act now. An eye-opening new presentation reveals the full story on why your credit card is about to be worthless -- and highlights one little-known company sitting at the epicenter of an earth-shaking movement that could hand early investors the kind of profits we haven't seen since the dot-com days. Click here to watch this stunning video.

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Patrick Morris

After a few stints in banking and corporate finance, Patrick joined the Motley Fool as a writer covering the financial sector. He's scaled back his everyday writing a bit, but he's always happy to opine on the latest headline news surrounding Berkshire Hathaway, Warren Buffett and all things personal finance.

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