6
This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

CNET News Video: No cash? Festivalgoers can pay with their phones

About Video Transcript

CNET News Video: No cash? Festivalgoers can pay with their phones

2:40 /

Keys, wallet and cell phone. Most people don't leave home without them. But what if you could ditch your wallet? PayPal, Google, and other tech companies are working to turn your smartphone into a mobile wallet, where you can pay with just a tap or swipe. CNET's Kara Tsuboi headed out to San Francisco's Outside Lands music festival to see if mobile wallets were really more convenient.

[MUSIC] With around 100 bands playing on multiple stages at San Francisco's 3-day Outside Land music festival, you don't want to miss a beat. But at some point, you do need to eat. Some festival goers skipped the ATM lines and never worried about digging out cash or losing their wallets. Instead, they used their smartphones to pay. You didn't bring any cash with you? No. I never carry cash. There have been times where, you know, I've forgotten my wallet and I. So I have my phone and I don't have any cash with me. I'm still able to get what I want to get without any hassle. Payments with PayPal has been testing it's mobile payment app at music festivals. We are using this as an opportunity to experiment, because there is so much need for technology to make people's festive going easier. You're here to see the music, you're not here to deal with the hassle. Once you download a PayPal app and link a credit card and picture, you choose a nearby participating merchant and check in. Confirm the order with a cashier, and get an emailed receipt. Your financial information is never shared, so there's nothing that, that can be hacked that goes over, goes over the airwaves. It's your username and that's it. 15% of the concession stands accepted PayPal. Some even offering coupons. As a vendor, you know, we do most of our transactions in cash especially at a festival so it is a a nice convenience for me, I don't really have to carry thousands and thousands of dollars in loose change around because there's no real safe place to put that at the festival. But widespread adoption of mobile wallets is still a ways away, Nate Pollock who owns the American Grilled Cheese Kitchen says they'll sell up to 7,000 sandwiches at the festival though only about 2% of the sales will be through PayPal. Paypal is a nice convenience for those that wanna preserve the greens, not at an ATM for a few minutes, but I think it's mostly gonna be cash here. Despite mobile providers brining in additional cell towers, connectivity can be inconsistent. It's obviously one of the biggest problems when you have a congregation of so many people in one vicinity. We do the best that we can to mitigate that problem. Unfortunately, we can't make the entire festival pass us right now due to connectivity. Other tech companies are banking on mobile wallets. Google Wallet has expanded to hundreds of thousands of stores nationwide. Verizon, AT&T and T-Mobile are backing a wallet service. Amazon's wallet is pre-installed in its new Fire Phone, and Apple is rumored to be developing a mobile wallet. While cash is still an option and you can pay with your phone. Festival organizers are hoping that soon you can just pay with a wristband. Truly freeing up your hands to enjoy the music. In San Francisco I'm Kara Tsuboi. CNET.com for CBS News.

New releases

Samsung's premium-looking gas range costs less
2:06 28 March 2015
The $1,699 Samsung Gas Range with True Convection, model number NX58F5700, has a lot to love at a reasonable price.
Play video
PicoBrew's automated beer maker too pricey for most home brewers.
6:28 28 March 2015
We're cloudy on the benefits of the PicoBrew Zymatic, especially for $2,000.
Play video
Meerkat or Periscope? Which is better?
1:54 28 March 2015
With Twitter's Periscope hitting the scene, we had to see how it measures up to Meerkat.
Play video
Samsung Galaxy S6 and S6 Edge: What's the difference?
2:30 28 March 2015
Paralyzed by choice? CNET's Jessica Dolcourt helps you decide if you can really be happy with the base model S6, or if the S6 Edge's...
Play video
2016 Kia Sorento
5:28 28 March 2015
CNET Senior Editor Wayne Cunningham test-drives the new 2016 Kia Sorento Limited Trim model and checks the tech on this comfortable,...
Play video
Mercedes F 015: Car of the future (CNET On Cars, Episode 62)
20:50 28 March 2015
Mercedes asks what shall we do when driving ends, the new safety tech that must be on your new-car shopping list, and the Top 5 affordable...
Play video
Imagine a 10TB Solid State Drive
2:58 28 March 2015
Could a 10TB Solid State Drive be in our near future? Amazon fluffs up their cloud service, Lyft goes social and Tim Cook gives ba...
Play video
It shoots. It scores.
2:53 28 March 2015
Mirrorless Samsung NX1 takes on dSLRs for action photography.
Play video