Put Your Keys and IDs into Your Mobile Wallet: Giesecke & Devrient Has a Plan

Phones can be your wallet, id and keysMobile tech advocates have been urging us for awhile to say goodbye to cash and credit cards and embrace the rise of mobile wallets -- perhaps a bit prematurely. But there's more to our wallets than money: How will the new digital billfold apply to our IDs? Or, moving elsewhere in our pockets, to our keys?

Germany's Giesecke & Devrient has an answer. The 160-year-old company that made its name first as a banknote printer and lately as a smartcard security firm, is reinventing itself again as a mobile wallet company called SmartTrust Portigo, reports tech blog GigaOM. G&D's product goes beyond a mere transaction tool and aims to be a one-stop gadget that replaces ID cards, building and vehicle keys and transportation tickets. Cue the real digital wallet revolution.

"Users will find that SmartTrust Portigo, the electronic wallet solution we are launching, is an easy-to-use app," G&D group SVP Klaus Vedder said in a statement. "At the same time, it opens up a wide range of new opportunities for mobile network operators, banks, and other service providers to develop new mobile services as part of their individual brand strategies."

This cri de coeur for development in the mobile space may indeed encourage all sorts of tech and financial companies to jump on the bandwagon of the digital wallet trend. G&D's plan is still under development, but the sky is the limit.

I, for one, would love my digital wallet to open the door to my apartment and while it's at it, provide a toothbrush app for when I forget mine on a trip.

What would you like your omnipotent digital wallet to have the capability to do?

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GLM Creations has invented a method so that mulitiple digital wallet providers bid for you to finalize a transaction using their wallet. The "bidding" pops up on your smartphone once you have chosen goods or services; and then each e-wallet entity displays what they will do for you or give you - e.g., points, credit, additional goods-if you choose their wallet. Imagine you go to WalMart and pick out a TV and go to checkout . You've got Isis and PayPal and GoogleWallet apps installed on your smartphone. Check out commences and your phone displays: PayPal will give you 10,000 reward points; Isis will give you 30,000 travel miles for any airline; and GoogleWallet will give you 2% of the sales price as future credit or $2 future credit. The competition in the e-wallet world will be great for consumers. Guy McClung,Rockport TX

November 12 2012 at 11:10 AM Report abuse rate up rate down Reply