Lighten the weight of your wallet, but not its value

5 minsJune 06, 2019

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A wallet or a purse is a vital accessory of anyone’s checklist when going out. We use wallets to carry an array of essential items – from cash to identification cards to receipts, and all kinds of sundry knicknacks. But what if we told you that in today’s day and age, most of these things are redundant? In fact, you could ditch your wallet or purse entirely! Sounds challenging? Here’s how you can go about it in five easy ways:

Documents

Getting your driver’s license, your personal identification and other documentation to fit in your wallet can be quite cumbersome. Additionally, we barely ever need to use them or take them out. There’s no point in using a wallet to carry these documents with you anymore. Using a government-approved app, you can now carry digital copies of your documents that are valid as originals. This includes your driving license, Aadhaar card and much more. Even if you don’t end up ditching your wallet entirely, doing this will definitely make it less bulky.

Money and payments

Even when other factors are taken care of, wallets will still be essential to those who want to carry their cash or cards. While cards have already made cash redundant for a lot of people, there are other wallet-free ways to go cashless as well. For instance, Axis Tap & Pay allows users to make transactions just by tapping their phones onto compatible payment terminals. Working on the basis of host-card emulation, the phones must have the NFC connectivity feature for this to work. Additionally, the Axis Mobile app has the Scan to Pay feature using which users can scan a compatible QR code to make secure payments from the mobile app itself.

Tickets

Carrying physical tickets for anything today is passé. Every aspect of your daily life that requires ticketing now has apps associated with it. In transportation, you have dedicated apps for flight and train tickets. In entertainment, you have one-stop-shop ticketing apps for movies, concerts and shows. Even for day-to-day commute, certain apps allow you to buy bus tickets, metro tickets and passes digitally. These tickets are then digitally authenticated to gain access to the services and have worked flawlessly since quite a while now.

Keys

One of the most troublesome things to carry in your wallet are keys – house keys, car keys and whatnot. While not all physical keys are replaceable with digital ones, many of them have grown to be – if you’re using the right locks. For instance, smart locks for your house can be controlled with your smartphone. They offer an added layer of security through features like facial and voice recognition and do not require you to carry a key. While cars that can be unlocked with phones have existed for a while, it is only becoming a widespread standard now with the Car Connectivity Consortium’s Digital Key 1.0 standard. Pretty soon, major car and smartphone manufacturers will combine efforts to provide a seamless car unlocking experience, and other car controls, directly on your phone.

Business cards

There’s no practical reason that can justify the use of physical business cards today. However, quite a few people continue to use them and hence, many business cards might still be finding their way into your wallet. While they do serve a purpose, you can digitise them for quick retrieval and store the originals in your drawer. With continuous improvements in smartphone cameras and processing capabilities, business card scanning and management apps are now the only places where business cards should be. Popular options can scan and classify data and even allow searching within your own stack of digitised cards.

With all these options available to choose from, do you really have any excuse to carry your wallet anymore?

Disclaimer: This article has been authored by Siddharth Parwatay, a Mumbai based independent tech-journalist, editor, and content-creator. Axis Bank doesn't influence any views of the author in any way. Axis Bank and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.

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