Cell Phone Pouch

You May Not Need an iPhone Pouch to Carry Your Money

How we use money has changed. Here at eHolster.com, we follow the future trends as our cases already have an iPhone pouch built in. But, what would happen if paper currency was mostly eliminated? A radical idea, yes, but so was paper currency at one time. The Massachusetts Colony was the first Western society to print and use paper money back in 1690. A revolutionary idea for its time. Today we take paper money for granted, something a future society may look upon as nostalgically as we do today in remembrance of cassette recorders. Maybe sooner than we think.

One in eight UK consumers don’t carry any cash and half believe coins and notes will become obsolete in the future, according to new research from Barclaycard and Barclays.

Make a Purchase Directly from Your iPhone?

Money is not only evolving into the electronic realm of computers, it is evolving into Near Field Communications (NFC). Your iPhone pouch may soon be located inside the iPhone itself. Near Field Communication allows a device, such as your smart phone, to send an electronic signal from your smart phone to a receiving electronic device. The signal contains encrypted payment information allowing you the ability to make a purchase and draft those funds from a bank account or credit card account. Near Field Communication has been around for years. The popularity of smart phones in recent years is allowing NFC a mature platform to establish its own technology. iPhones and iPads are planned to have the NFC technology built into their newest models in the coming years: Apple To Add NFC Functionality To iPhone and iPad.

Use QR Codes to Pay?

The evolution from coins, to paper, to electronic currency continues to advance. An iPhone pouch can hold more than just money though. Credit cards, drivers license and other forms of ID can also be held. The inconvenience of coins is making room in your iPhone pouch for more convenient ways of monetary transactions. Critics of this technology have security concerns. However, Starbucks coffee is using similar iPhone technolgy in the form of QR codes. You can charge up your virtual Strabucks card with your bank account or Paypal account. Their smart phone application generates a unique QR code that the store clerk can scan using their bar-code reader at the register. Buying coffee at Starbucks has never been easier or more secure. Pay for your coffee nationwide with your iPhone or Blackberry.

Other Future Payment Technologies?

As technology continues to evolve, necessity will continue to drive the invention of supporting technologies such as NFC. What other technologies do you foresee changing the way we make transactions in the future? Please leave your comments below.