Mobile phones and smartphones may soon be used to replace wallets.  If Research in Motion goes ahead with their plans, it could be a new breakthrough in the way smartphones are currently being used.  Top corporate customers of BlackBerry would have access to near field communication technology which would enable users to operate their Blackberry’s in the same way as they would use their wallets.  Cash and cards would no longer be needed to make purchases and wallets would be practically redundant.

Near field communication technology (NFC) permits data to be transmitted and exchanged through wireless.  This would enable smartphones to be used as cash while paying for goods at a departmental store, purchase tickets or buy your cup of coffee.  One would also be able to store electronic tickets, save business cards, swap photographs and download music.

One would also be able to use their BlackBerry to enter building and offices making keys or smartcards a thing of the past. As stated by Mr. Andrew Bocking, Vice President of Handheld Software Product Management at Research in Motion, NFC technology would put forth new and exciting capabilities for Blackberry users like never seen before.