Everyone else is making apps to make the wallet obsolete, and I think I speak on behalf of all men when I say kudos to them for doing so.
So it's a an odd time to be making a product that makes it bigger. This seems like making something to rewind your VHS tape the year before everyone bought a DVD player.
Not really, I imagine the wallet will still be alive and well for at least another 10 years.
Until every little shop and flea market is accepting square for everything (I've yet to see anyone using square in the UK yet).
Not to mention having somewhere to put credit cards, business cards, discount cards, receipts and all that other stuff.
Plus a wallet is still a fashion item.
I agree that this does look kinda big though.
It might also be better to have this somehow sown into the wallet itself, if your wallet is stolen the first thing the thief would do is throw this away.
Wallets definitely will exist for awhile, unfortunately, because businesses are slow to adopt new terminals that use NFC or the like. I think their collapse will come very quickly though. You'll go from not needing your wallet half the time to not needing it ever in under a year. I'm not sure when that will happen, but I'd take the under on 10 years.
Once I can pay for things with my phone at most places, I'll simply not go anywhere where I can't, or if I do, I'll plan in advance and toss some coinage in my pocket.
NZ law for example requires you to carry your drivers licence at all times. Most (but not all!) people keep it it their wallet - sure you can attach it to your key chain or put it in the glovebox, but then if you're driving a work/friends car, you need to make sure you also have your keys with you (or remembered to grab your licence)
I keep receipts in there - normally for up to a few weeks until I sort them and keep the important ones. Without a wallet, these will just go in a random pocket and probably be lost (though maybe you could have electronic receipts...)
I keep business cards in there (both mine and others). Sure, some of the time you may be able to send a contact to the other persons phone, but if you're meeting a client etc for the first time, fumbling around trying to get phones to sync is probably not a good look. (Assuming the person has a phone that's compatible with yours). This ignores all the other advantages of business cards such as being able to scrawl a message on the back before leaving it with a receptionist, or tucked into a door.
I keep one time keys on a bit of paper tucked in there - both gmail and for financial accounts. These are bits of data I specifically never want to ever be found anywhere on my phone or online =)
And if you are young, where else are you going to keep that emergency condom? =)
It will go at the speed of the slowest common denominator.
Lots of shops are run by older people who will resist adopting any kind of technology unless absolutely necessary (and it won't be necessary until people stop carrying cash, kind of catch 22).
Not to mention weed dealers and "cash in hand" types. Plus making sure everyone has NFC phones (including people coming from overseas).
So it's a an odd time to be making a product that makes it bigger. This seems like making something to rewind your VHS tape the year before everyone bought a DVD player.