New iPhone App May Help Us Say Goodbye to Our Wallets

The tech industry is buzzing about a new iPhone app that may one day be able to function as our virtual wallet.  The app is called Passbook, and is currently being used as a central hub for all of consumers’ digitaliphone5 150x150 New iPhone App May Help Us Say Goodbye to Our Wallets coupons, tickets, and loyalty cards.

Over the past few years, companies like Visa, Mastercard, PayPal, and Google have been working hard for widespread mainstream adoption of mobile payments, but the technology has not yet caught on.  Many tech analysts like Shaw Wu, believe that Passbook will be Apple’s vehicle for mobile payment once it catches on and becomes mainstream.

According to Gartner research, the mobile payments industry will grow to over $600 billion by 2016, so it may not be long until the only thing we will need when making a purchase will be the swipe of our phone.

To read the full article, visit http://www.usatoday.com/tech/news/story/2012-09-11/apple-passbook-app/57749550/1.

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About Ryan Gillis

I am currently a Marketing Intern for the Council of Better Business Bureaus in Arlington,Va. Originally from New Hampshire, I am a student at George Washington University in Washington D.C. My hobbies include: golfing, skiing, keeping up with Boston sports teams, and reading about history.