03/05/2012 02:45 pm ET Updated May 05, 2012

NFC: The Next Big Thing

Just as we are getting accustomed to seeing (and using) QR Codes, I learned recently that they will soon be extinct. And about time I say. First of all, QR codes are big and ugly. They look like someone squashed an ink-blooded spider on a page with a hammer. AND they are not that easy to use -- fumble around to find the app or your camera and take a picture of the code and hope for the best. Cool yes, but they are already feeling antiquated, like sending a fax to someone.

So what's going to replace them? Well, mobile phone manufactures are building their next generation smartphones with a new technology inside called NFC which stands for "Near Field Communication." This is a huge leap forward for consumers and it will usher in yet another lexicon to our daily vocabulary, "Tap Here."

We have already seen examples of this technology at gas stations with credit cards issued by the banks. PayPass is one such technology MasterCard uses at the pump prompting a customer to "TAP your credit card here for payment." Well guess what, MasterCard: There's a new sheriff in town and he's gunning for you. With NFC being built into many smartphones by the end of 2012 and digital wallets being to take shape, we will soon be tapping our cellphones on all sorts of things -- germaphobes beware! We will be able to download coupons, get prices and product information, buy movie tickets and yes to pay for our gas. Our phones with NFC will be able to replace our debit cards, our credit cards and sooner or later even our Shoppers Optimum card (I always forget mine in the other car anyway).

Rogers Communications recently applied to the Federal Government to become registered as a bank.

Why? Because Rogers knows that fairly soon we will be using our phones to buy stuff -- and they want a penny or two on every sale. I'm sure Bell and others will follow suit and you will be able to apply for high interest credit terms with your favorite mobile phone carrier. They will be as secure as our bank cards and with face recognition and other security features, may actually be more secure. Lose your phone? Call Rogers and they will not only lock it down from unauthorized use but use the phones GPS to help you find it. My credit card can't do that.

So get ready people. Soon you will be able to use NFC to buy your KFC and go home to watch NBC on your PC and order PPV movies all with your phone. OMG!