Like most smart products these days, smart wallets seek to improve upon an outdated concept that has seen little or no innovation for the bulk of the century. Smart wallets provide a safer way to carry around our money and credit cards while also being designed to reflect our changing spending habits and transition away from paper bills and coins. With the market for this technology exploding, what smart wallet features should be essential for any prospective buyer?
Why Security And Safety Should Come First
When buying a smart wallet, having the confidence that our personal financial information is kept as secure as possible should be of paramount concern. Radio-frequency identification (RFID) technology has been used in embedded credit card microchips since 2005 and allows for contactless payment during checkouts. Unfortunately, some thieves have attempted to use scanning devices to gather credit card information from nearby unsuspecting customers. Smart wallets address this issue by using aluminum or carbon fiber materials which block signals emitting from cards stored in wallets. Also, if the worst-case scenario happens and an owner loses their smart wallet, the devices offer Bluetooth/GPS tracking that works in conjunction with smartphone apps to narrow down where the wallet may be. Anyone buying a smart wallet should ensure that their selection has these basic security features.