apple bandwagon because apple is a very hip and happening company. i have questions, really? it is not going to be vulnerable? i have a hard time believing that. do you see any vulnerabilities in this technology? >> again, it depend how it is deployed. if the payment credentials are stored in the cloud, protected, and nothing is stored on the phone and nothing given to the merchant, we ha a safer way to apoach things. we can not get rid of the risk of card fraud and data breaches without getting rid of the card. the card today has the numbers printed on it, expiration date and the security codes and anybody can read that, as well as on the magnetic stripe. if we eliminate that, eliminate the risk and improve security for everybody concerned. gerri: well i got to tell you, there is another way to eliminate that risk. something called cold hard cash, richard, have you heard of that. >> indeed, but the problem is that cash doesn't give you a ability to manage your money. vulnerable to theft and loss whereas a mobile payment gives you the chance to manage money and link it to the activationon offers and save money and communicate with merchants based on your preferences without any spam. gerri: richard, itch one more question for you. so we reported earlier this week about the breach of information of celebrities. frankly naked pictures of celebrities were everywher a lot of people talking about that. a lot of people ble the cloud and icloud in particular. apple said it wasn't their fault. now they're out with solution, ways for consumers to protect themselves. does apple have some culpability here? >> they may but apple won't be the only one offering a mobile wallet. consumers put their trust today in financial institutionsnd credit unions and they are also working hard to provide mobile wallets. consumers can also get mobile wallets from merchants like subway, orange leaf yogurt, starbucks. the biggest merchants in the country form ad mobile payment network known as connect-c. they are providing mobile payment capabilities as well to provide security and utility to consume years richard, thanks for being owith us tonight. have a great weekend. >> gerri, thanks for having me. gerri: we want to know what you think. here is our question tonight. would you give up your wlet to pay with your phone? would you do that? log on to gerriwillis.com, vote on the right-hand side of the screen. i will show the results at end of tonight's show. as the wor

they want to jump on the apple bandwagon because apple is a very hip and happening company. i have questions, really? it is not going to be vulnerable? i have a hard tiime believing that. do you see any vulnerabilities in this technology? >> again, it depend how it is deployed. if the payment credentials are stored in the cloud, protected, and nothing is stored on the phone and nothing given to t merchant, we have a safer way to approach things. we can not get rid of th risk of card fraud and data breaches without getting rid of the card. the card today has the numbers printed on it, expiration date and the security codes and anybody can read that, as well as on the magnetic stripe. if we eliminate that, eliminate the risk and improve security for everybody concerned. gerri: well i t to tell you, there is another way to eliminate that risk. something called cold hard cash, richard, have y heard of that. >> indeed, but the problem is that cash doesn't gi you a ability to manage your money. vulnerable to theft and loss whereas a mobile paymentives you the chance to manage mone