David Birch has a great post on the future of contactless payments vs. phone payments:

I've heard more and more people — on the issuing side — talk about
skipping over contactless cards completely and just moving directly to
phones of one form or another, either NFC phones or phones with NFC
stickers on them. The argument is, essentially, that it's hard to
deliver enough added-value to compete with the cash just using a card
whereas a phone can be a platform for more services for the both the
payments and retail sectors.

There is much food for thought in the post, so don't stop reading – go here for the rest.