Apple to Explore Replacing Your Physical Wallet With Apple Watch

Apple is exploring ways it can eventually replace your physical wallet in exchange for wearing an Apple Watch. In an interview with Yahoo, Apple executives Kevin Lynch and Deidre Caldbeck discuss how Apple Watch can eventually become more than just a supplemental piece of technology to the iPhone.

Apple has already begun to take steps towards making its goal of Apple Watch replacing your wallet a reality. Apple Watch already supports the Wallet app, enabling users to input, store, and use multiple cards. Tickets can also be stored on the app and used via Apple Watch. However, as Lynch and Caldbeck point out during their interview, there’s still a lot of work to be done.

“This is kind of our vision for eventually replacing the physical wallet where you just have everything you need…right on your wrist,” Caldbeck explained.

Upon the release of watchOS 8, users will be able to input, store, and present digital ID cards on Apple Watch. This will bring upon a huge shift towards Apple obtaining its goal. Licences will be one of the many digital ID cards users will be able to store. Locks such as for your front door and or car will also be able to be stored within Apple Watch as well.

“We’re early on this, obviously. You’ll be able to have it in your Wallet. You can see your ID there like your other cards. And then you can present that if you choose to, for example, TSA. Very much like how Apple Pay works, you can digitally present it, and the information can show up for the person who is looking at your ID. And we manage which information is available to which person. Kind of like you do in [the Health app].”

Now, of course, credit cards, digital IDs, and locks for personal items are incredibly important for the user so maintaining their safety is crucial. So, Apple is working on implementing improved Ultra-Wideband technology into Apple Watch Series 7. This will not only allow digital locks to work but also assist in finding a misplaced or lost Apple Watch. Using Apple’s Find My app, users may be able to either locate the wearable or remotely wipe it.

There are also other safety features in the event the wearable is stolen. If the Apple Watch has fallen or is taken off your wrist, it will immediately lock, blocking anyone from stealing personal information.

The beta for watchOS 8 is set to release later this summer with the full-fledged release scheduled for fall.