Credit cards may soon be as outdated as vinyl records, CNNMoney.com reports.

You can already use iPhones, Droids or BlackBerrys to buy a hot dog at a ballgame, buy  a Starbucks latté, or give a friend a few bucks. By the end of the year, you may not even think twice about reaching for your phone to pay at the register instead of fumbling for your credit card.

“Your plastic card hasn’t changed since the age of the vinyl records,” said Michael Abbott, CEO of Isis, a new mobile payment network. “This is the chance to bring payments forward from the plastic age and the vinyl records age to the digital age.”

Companies have been experimenting with mobile payments for years, but 2011 is expected to be the year the technology takes off. That’s because millions of phones capable of making what are called “contactless” payments are expected to be shipped out in 2011.

As a result, this pay-by-phone market is forecast to make up $22 billion in transactions by 2015, up from “practically none” last year, according to research firm Aite Group.

Companies including Visa, MasterCard, Google, Bank of America, Citigroup and U.S. Bank are all testing contactless mobile payments, and many expect to roll out mobile wallets this year.

Click here to read the entire story at CNNMoney.com.