The death of the wallet

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These days, the average consumer has multiple cards weighing down their pockets, from debit and credit cards, loyalty schemes, contactless public transport tickets, IDs, healthcare cards and more. This seems out-dated in an age where we can already do so many things all from one device, using mobile payment apps.

Thanks to the pandemic, we are heading towards a cash-free society at a much faster pace, with consumers switching to touch-free payments to protect their health. Research from PayPal has shown that a fifth of consumers no longer carry cash, and around seven percent of people have decided to scrap their wallets and purses entirely. Many of those stated contactless payments are safer, easier and faster than carrying around physical notes and coins.

So, does this mean the end of the wallet?

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