Your iPhone really has become your wallet

iPhone replaces bank cards

It doesn’t mean free money, unfortunately.

Look, I’m not usually in the business of saying “I told you so”, but…

In 2010 I told you that:

Apple’s near field plans means iPhone will be ‘iWallet’

More recently I explained

Here is the future of Apple Pay

Within that I wrote this about cash machines:

“Banks are developing cash machines withNFC support. I imagine these will demand both a biometric element and passcode in order to protect against theft, but one day you will inevitably be able to withdraw cash from any ATM anywhere just by waggling your Apple Watch above the machine.”

The late July 15 we saw this press release:

“FIS and Payment Alliance International Bring Cardless Cash to Consumers at Retail Locations” (Link)

Which said:

“By leveraging FIS Mobile Banking with TouchID, customers securely access their funds and authorize the amount they want without inserting a plastic card into an ATM.”

It’s already here, folks. The iPhone has replaced your wallet — and if you need cash you can pull some out of the hole in the wall, or soon you’ll be able to as the new system will eventually hit 70,000 ATMs in the US, and this is only going to rise.

The big advantage of this is that you can’t easily be robbed, can’t see a card cloned, and won’t leave your card in the machine.

What’s next, eh?

Well, you know what I think.

Jonny Evans

Watching Apple since 1999. I don't say what they should do. I say what they might do. They sometimes do.

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