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The world’s first wallet phone was the P506iC, which was commercially introduced by NTT-Docomo on July 10th, 2004 with a suite of applications linked to the wallet.
In the 10 years since 2004, wallet phones have developed and expanded greatly. While traditional Japanese wallet phones are still widely in use in Japan, Apple iOS and Android based smartphones are rapidly growing in marketshare and are expanding the universe of wallet phone applications in Japan and globally.
Wallet phones are mobile phones equiped to include bank cards, credit cards, house keys, company access control IDs, electronic cash, train tickets and many more functions. Wallet phones in principle can take over all functions which our wallet has.<br> Wallet phones enable mobile operators to enter new industries, especially the payment and credit card industries. For this reason wallet phones represent innovation and disruption for established industries, such as credit cards.
This report describes the technology and the eco-systems of wallet phones, and describes several application case studies richly illustred with photographs and descriptions of how wallet phones present value to consumers, and how wallet phones impact established industries.