Most people I think have two things in their wallets (also purses) - cash and cards. Cards can further be divided into bank cards, loyalty cards, and personal identification (also drivers license, insurance etc). A majority of the content in our wallets has been digitised and made accessible from our phones. Cash has been replaced by our phones. We can do banking on our phones and make retail transactions by using our phones (NFC or QR code payments).
Loyalty cards/programmes have also been digitised and transferred to our smartphones in the form of apps.
The only thing left now is to transfer our personal identification from our wallets to our smartphones, and hopefully that's going to happen sooner rather than later.
Inevitably some people will question if this is "safe and secure", but if you ask me, storing information in your smartphone is much safer than your wallet. If you lose your wallet or if someone steals it, they instantly have access to all your cash, cards, and identification. But if someone gets a hold of your phone? They can't even access it if you've locked it, let alone sensitive information like banking apps, which are usually protected by another layer of security (like fingerprints or pincodes). Having everything in my wallet be digitised and stored/accessible on my phone is a future that I look forward to. No more having to replace faulty bank cards, no more needing to physically go to a government office (or post office) to renew my driving license. Everything can be done online on my smartphone.
What about you? Would you rather keep your personal identification on your phone or in your wallet? What about cash and loyalty cards?