Credit cards could become outmoded in the same way as cheques have, it has been suggested.
Neil Munroe, external affairs director at data provider Equifax, said that technology is moving towards storing everything on one piece of equipment, for example a multi-purpose mobile phone which could be used to pay for goods.
However, he warned, whatever technology is adapted to make spending more secure will be able to be cracked.
"Fraudsters will get into this area, any new technology they will get into, the internet they got into, and other types of technology, they will get into as soon as it's introduced," Mr Munroe added.
According to Barclaycard, there are 11.9 million credit card customers in the UK.
In the second quarter of 2008 there were 1.8 billion plastic card purchases made, with expenditure totalling £92.6 billion, Apacs has reported.
The number of transactions was 7.8 per cent higher than in the same period in 2007 and spending via card was worth 7.5 per cent more.
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