If you’ve been paying attention to trends, you’ve probably noticed that suddenly it seems like everyone is either promoting or using a virtual wallet. And with the launch of Google Pay, a new mobile payment service, it might be tempting to think that physical wallets are headed for the digital dustbin of history.
But are virtual wallets really replacing physical wallets? We have more durable versions of the latter, including metal men’s wallet, and the truth is they’ll never be replaced.
What Are Virtual Wallets?
A virtual wallet is a digital means of storing payment information in a secure system, which can replace the use of physical payment methods such as cash, credit cards, and checks. They are gaining popularity and may one day be the standard method used to pay for goods and services.
However virtual wallets do not appear to have replaced physical wallets just yet. In fact, many experts believe that these types of wallets will never replace physical wallets entirely; here's why.
Why Virtual Wallets Won’t Take Over the Market Any Time Soon
As much as we like the new trendy ideas, sometimes the functionality of an idea makes more sense than the hype. When it comes to virtual wallets, they’re a fresh idea still in their infancy. But even 100 years from today, chances are that they won’t entirely outdo the physical wallets. And these are some of the reasons:
1. Digital wallets are convenient, but physical wallets are more secure
A physical wallet is more secure than a digital one because it’s harder to hack. With a physical wallet, its contents can’t be hacked and transferred to another country. However, with a digital wallet, you can lose your money to hackers if you don’t have a strong password and a firewall. A physical wallet is typically a bit more expensive than a less-expensive digital wallet.
2. Physical wallets can be used at more locations than virtual wallets
With a digital wallet, you won’t miss at least several outlets not using it or not willing to accept digital payments. On the other hand, you’ll rarely find a store that doesn’t accept hard cash payments. And that’s why you’ll find that every man’s front pocket wallet won’t miss a few bills alongside the cards.
3. They rely on the internet always
Since people don't always have access to a computer or the internet, physical wallets can still be used. With a digital wallet, you must have internet access, which is not always readily available, especially if vacationing in remote destinations in some third-world country.
On the contrary, a physical wallet lets you carry your cash and cards, which will always be accepted anywhere on the planet. And with an RFID steel wallet, you’re guaranteed that your cards information won’t be stolen.
4. Physical wallets carry more than cash
Just because someone has a virtual wallet, doesn't mean they won't still use a physical wallet. The latter is very useful as it doesn’t always necessarily mean that you’ll use it to carry cash and cards. A tactical wallet with an ID window for instance lets you carry your ID card and show it at various checkpoints for quick access. If you have a sizeable wallet with zipper, you can use it to securely carry your phone, keys, and other small accessories.
Physical wallets give a sense of satisfaction
Most people want to hold cash in their hands and don't want to rely solely on their plastic cards. Spending physical cash allows you to be conscious of your budget especially if you’re trying to minimize expenditures or impulse buying behavior.
Three Best Physical Wallets To Consider
You’ll realize that as much as digital wallets bring convenience, it’s practically impossible to get rid of physical wallets. If you’re shopping online for the best front pocket wallet, check out the following options.
Kryptek Armored Summit Wallet
If looking for a minimalist wallet that’s tough, durable, and offers maximized RFID protection, the Kryptek Armored Summit Wallet won’t disappoint. It’s one of the most durable wallets you can buy. It has a heat-resistant steel plate, durable melonite finish, and is ultra-thin - perfect for your front pocket. Plus, it comes with an integrated bottle opener.
Kryptek's RFID-blocking technology guards against your 7 credit cards & ID theft, so you can rest assured that your personal information is safe. The MIL-SPEC nylon webbing and attachment point add a sense of style to the wallet.
For those who like to take notes frequently, a handy wallet that can also serve as a pocket organizer is an excellent choice. This compact leather sleeve and wallet combo keep your cards, coins, and pens all in one place. Stylish and durable, the Summit Notebook wallet is perfect for the person who's always on the go.
It’s spacious enough to hold up to 8 cards, features heavy-duty nylon stitching, and is made of Horween oil-tanned leather for durability. It’s an excellent choice for business persons or those always in meetings.
Roam Clutch Wallet
If you need a wallet with a pouch for a cell phone, 12 credit cards, coins, and bills, the Roam Clutch wallet for women is a perfect choice. It's a rare treat to have a wallet that doesn't have a bulky, uncomfortable design.
The Roam Clutch Wallet is designed with a slimmer profile, so it sits discreetly in your hand, bag, or pocket. With three-snap closures and four attachment points on the edges of the clutch, you can securely carry your small items in this wallet when you're on the go.