Phoning It In: Could Using Your Wallet Soon be a Thing of the Past?

There may well be no need for a wallet in the coming years if Apple have their way, according to rumours circulating the technology scene this week and reported on by Bloomberg. According to reports, Apple are in talks with plastic card giants Visa, Mastercard and American Express to turn its next iPhone into an electronic wallet, meaning the day of carrying your cards and cash could soon be a thing of the past. The agreement is set to be unveiled on September 9th, after months of private talks.  In theory this should make paying for goods and services in businesses everywhere as simple as swiping your finger. The new technology is said to include a special chip which coupled with fingerprint recognition on the phone should make the day of carrying a wallet a thing of the past. The bonus for Apple is of course that users will now be all the more reliant on their iPhone. Spokespeople for Apple, Mastercard, Visa and American Express declined to comment on the story this week.