It seems as if everything in our lives has become smarter, whether it's speakers, doorbells, watches, or now wallets. The classic wallet hasn't seen a noticeable upgrade in decades, so it was time for technology to step in and provide some carrying around credit cards and money. What else can a smart wallet do to make our lives easier and safer?
What A Smart Wallet Isn't
We may well be headed toward an age where digital currencies replace paper money, but the point of a smart wallet is not to carry around these electronic payment methods in a physical container. Instead, the best smart wallets aim to utilize some modern technologies and manufacturing methods to revamp the dated concept of a traditional wallet. Smart wallet owners still use these devices to store paper money, credit cards, and personal IDs, but they are now able to access their digital funds and cards more easily and securely.
How Smart Wallets Are A Smarter Design and Construction
If you have been in the habit of lugging around a wallet on a daily basis, you probably have experienced how even good-quality leather wallets quickly start to show signs of wear. Smart wallets abandon traditional wallet-making fabrics for the most part and instead have turned to space-age materials including carbon fiber and aluminum. The result of using these alternate materials is smart wallets are constructed to be stronger and lighter than traditional wallets. If there is one common theme among all smart wallets, it would be minimalism. Smart wallets typically can hold anywhere from 5-12 bank or credit cards, but compartments to hold paper money are slimmed down considerably from the classic wallet design. The smart wallet design reflects changing habits in payment methods, as the use of paper money continues to decline in favor of electronic payment options.
Why Smart Wallets Are Safer And More Secure
A common selling point for smart wallets is the added security they provide over traditional wallets. What does RFID do regarding smart wallets? RFID or Radio Frequency Identification is a method most modern credit cards use with embedded chips to allow for the convenience of tapping to pay. Unfortunately, some thieves have taken advantage of the technology to use devices to scan these chips when in close proximity of a card carrier. These scanning methods are not as foolproof as they may seem, with electronic interference in crowded locations a common obstacle. Nevertheless, smart wallet makers have attempted to remedy our fears by using metal materials to block electronic pickpockets. Also, some smart wallets, like the Cashew Smart Wallet, have Touch-ID methods of authentication where only authorized s can unlock a wallet with their fingerprint. The best smart wallets, like the Volterman, even have embedded cameras to snap photos of thieves who try to run away with your cards and money.
How To Never Lose Your Wallet Again
Bluetooth tracking devices are not new technologies and companies like Tile have provided coin-sized trackers to stick in wallets for several years. Some smart wallets simplify the process by embedding Bluetooth tracking in the wallets while others include separate thin tracking chips in the shape of a credit card. Working in conjunction with smartphone apps, when a smart wallet owner misplaces their wallet or suspects that it is stolen, they can track down its location on Google Maps.
Why Smart Wallets Are More Convenient
Smart wallets are not only more secure and slimmer than traditional wallets, but they also allow owners to access what they need without opening up the entire wallet and risking losing or exposing their cash. For example, the Ekster Parliament Slim Leather Wallet includes a mechanism that ejects credit cards enough to grab which ones you need without them all falling to the floor.