My latest issue of Businessweek posits that we are moving toward a walletless society. We may be moving toward a cashless society, but a walletless one? I wonder.
The number of cards and IDs we have is growing. I have two cards to go to Barnes and Noble. As of yesterday, I have two cards to go to Kohl's. And they want me to add an app. There are few places I go where I do not have to have an ID. Even restaurant loyalty cards. For some of these one can use a phone number, instead of the card, but the card is there.
Yes, we can add another app to our phones or ipads or tablets. There is a limit to how many apps one can put on the phone unless one wants to buy a 128 gb phone and flip through pages of apps to find the right one. Each source assumes theirs is the primary app. you will use.
I have a 64 gb Ipad, and it slows down when too many apps are open. Most people do not close off the open apps.
Since my Ipad also has my granddaughter's games (MANY of them -- perhaps 200 despite my efforts to reduce them), it demonstrates well what a phone or iPad can bear. I have two apps for Target, about 3 or 4 for Amazon, several for Apple and its related sites. And so on.
ApplePay and similar vehicles designed to make us walletless are new. We do not know how secure they are. The hackers are no doubt studying hard on how they can beat the system.
Although my friends know me as an early adapter, this is one trend where I will proceed slowly As someone whose credit cards have been hacked about four times in the past six years (3 different credit cards), I am reluctant to try a means where I have even less control.
My wallet is getting thicker, not thinner. I don't anticipate giving it up anytime soon. In fact, I frequently go through the wallet removing those credit cards for stores. Yesterday I visited two stores where I infrequently go. Those special cards are already out of the wallet and put away.
I see our cards growing, not shrinking, because of loyalty programs and their rewards.
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