Why wallets may soon be history
Posted Apr 23, 2011 7:41 am.
This article is more than 5 years old.
Your wallet could soon go the way of the dodo.
Nearfield communications is the technology that will bring about the digital replacement of the pocketbook starting this year.
The Financial Post reports NFC will securely embed all the information now found in your cards, cash and identification into your smart-phone.
Similar to the way credit and debit cards are embedded with smart-chips, NFC chips don’t need to be attached to a card because they transmit wirelessly.
The new chips could be directly embedded in your iPhone or Blackberry.
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