In advance of the arrival of Near Field Communication devices later this year, will paying by mobile become the norm?
Vodafone could be set to revolutionise the way we use taxis in the future as it unveils a new service whereby customers can pay for their journey via text message.
The mobile network provider has decked out 500 London taxis in Union Jack designs, all featuring mobile payment points which will allow Vodafone customers to text 31255 and pay for their journey with no additional charges being incurred.
The taxis also have handy phone chargers installed, allowing passengers to top up power hungry smartphones during their journey across the capital.
The service is not the much hyped Near Field Communication (NFC) expected to arrive in mobile devices later this year, but could be one step further toward the decline of the wallet and purse.
Guy Laurence, chief executive of Vodafone UK, said: "We are committed to offering London the best possible network. We have already made hundreds of improvements to increase coverage, capacity and reliability to ensure Londoners can always stay in touch with friends and family. Now with our fantastic fleet of Union Jack cabs and their on-board chargers which anyone can use, all Londoners will be able to see our continuing commitment to the capital."