Digital ID 💳

Digital ID

During the pandemic, we saw more people opt to use their phones to pay for products rather than touch dirty buttons and screens using a traditional card. As a result, the popularity of digital wallets is growing, and soon, you’ll be able to add your licenses and IDs.

Apple said Wednesday that customers would be able to add their driver’s licenses and state IDs to their Apple Wallet on iPhone and Apple Watch to use during security at selected airports.

Arizona and Georgia will be the first states to use the new feature, followed by Connecticut, Iowa, Kentucky, Maryland, Oklahoma, and Utah, though Apple did not provide a timeframe.

The announcement comes only months after Apple said that it was working on the functionality with the Transportation Security Administration at its Worldwide Developers Conference in June. The upgrade is an important step in Apple’s ambition to replace physical wallets, and it will make it easier for travelers who don’t want to get their hands dirty.

Adding IDs to the Wallet app will be as easy as uploading your credit cards and travel tickets. As an added security step, users will be requested to perform facial and head motions after scanning their ID.

In countries like Asia, particularly China, physical wallets are a thing of the past. Instead, people have everything they need on their phones, scanning QR codes to pay for goods and services. So, will physical wallets soon be a thing of the past in America? And do you prefer physical or digital wallets?

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

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