Why Your iPhone Should Never Replace Your Wallet

Apple Pay makes it easy to pay for goods in stores using your iPhone, but that’s why your iPhone never replaces your wallet.

Apple Pay launched last year, and we’re actually approaching its one-year anniversary this month. That year, the new payments platform saw massive growth, with many retail chains across the country accepting Apple Pay as a form of payment on the checkout line.

It works by first adding a credit or debit card to Passbook on your iPhone and setting up Apple Pay. From there, go to any store that accepts Apple Pay, hover your iPhone over the payment terminal and place your finger on the Home button to authorize payment with Touch ID.

It’s really easy to use and makes you believe you’re really living in the future. Plus, security benefits abound as Apple Pay doesn’t actually give the retailer your credit card information, whereas the regular swipe of a credit or debit card provides this information to the store. A store’s payment platform can be hacked and your credit card information stolen, just like in the Target and Home Depot hacks and many other store hacks over the past few years.

Apple Pay is great, but we’re not at a point where your iPhone can replace your wallet, and I’m not sure we can get there. Here’s why.

Your Wallet Stores More Than Credit Cards

Perhaps one of the biggest arguments for iPhones not to replace wallets is that your wallet stores much more than your credit or debit cards. Your wallet also stores your ID, spare cash, and possibly other cards like your insurance card and other forms of identification.

For starters, showing a picture of your driver’s license probably won’t cut it in most states, whether you’re at a bar or stopped in traffic by a police officer.

Earlier this year, Iowa announced its plans let drivers use their phones to show their ID with traffic at a standstill but still not airborne and is the only one of 49 other states.

Other identities usually work fine. I was recently able to prove to a doctor that I have health insurance and show them a picture of my health insurance card on my iPhone. Granted, they really just need the policy number and stuff like that, but it’s one step closer to emptying my wallet.

However, I don’t know anyone who would give their phone to a police officer and let him go to the police cruiser for a few minutes. Essentially, there are many different factors involved, which means it’s really better to have your driver’s license and your phone separate.

What If You Lose Your iPhone?

When you use your iPhone as your wallet, you put almost all your eggs in one basket and take a big risk.

If you lose your iPhone or someone steals it, your wallet will be gone instantly. Of course, even if these two things are separate, something like getting robbed at gunpoint, for example, can happen, but at least you’re less likely to lose both your iPhone and your wallet if you keep them separate.

Just losing your iPhone can be a joke, but you can easily buy a new one and restore a backup to get everything back, but when you lose your wallet, it’s usually a much bigger deal and a lot more hassle because canceling credit cards, your driver’s license renew etc.

If Your iPhone Dies, You No Longer Have a Wallet

Battery life is one of the biggest complaints users have about their iPhone, and I’m sure many users do their best to keep their devices charged whenever possible, but sometimes it’s out of their control and they end up with an iPhone.

If your iPhone dies due to low battery, you no longer have a wallet, so you can actually say your wallet has battery life as well, and if it weakens and dies, you’re suddenly without a license. , credit cards etc.

Again, by doing this you’re putting all your eggs in one basket, and the stuff that allows you to buy things from the store and prove your own identity will be temporarily gone if the battery dies. Sounds so bad, right?

Widespread Use Still Not Available

While Apple Pay is available at numerous retailers, it’s not available everywhere, so if you use your iPhone as your wallet, you can only shop at certain stores, which may sound like a big deal, but you’ll probably get on your nerves in the end. It would be like seeing all these options on a menu, but you can only choose something from a particular set of items that may or may not be great.

Of course, it’s possible that Apple Pay is available at most of the places you shop regularly, which is great, but for most people, there are probably a few favorite stores that aren’t supported yet.

As time goes on, the list of supported stores will grow significantly, but there are still a million reasons to keep a real wallet on you.