What is an innovative wallet?

Let’s start with a quick definition. Innovation is the creation or development of a new idea that changes the way we think about something. A great example of this is Apple who in 2007 released the first iPhone, which has become the standard – to this day – for all smartphones and the way we communicate with each other.

Types of innovation in wallets

When it comes to innovation in wallet design, there are many different things we can look at. What you want from your wallet – whether its to slim down or add new functionality – is important when choosing your next wallet and what best suits your individual needs. Let’s breakdown the different types of innovation you can find in wallets.

Materials

Gone are the days where the only wallets are made from leather. New materials are constantly being developed to create a wallet that tackles many of the issues traditional materials have. Examples of this include Tyvek (a paper-like material), Meridian Shell (almost like sandpaper) or 10XD (strong nylon).

Functionality

The whole purpose of a wallet is to store your everyday carry including card, cards, and other items. As more wallets come onto the market we’re seeing an increase in features not typically attributed to wallets and that goes above and beyond in trying to make our lives easier well on the move. This has given creation to a whole range of ‘smart wallets’ which company technology into the wallet and even integrate them with your smartphones.

Other innovative features include the way a wallet deals with cash and card storage and the way they provide quick and easy access to these items. The final way wallets can innovate with its functionality is its size. Usually, if a wallet is smaller in size they have to compensate and remove features to enable the wallet to be a smaller size. But many wallet manufacturers have innovated in the way they combat this issue and have enabled you to have great functionality and a smaller sized wallet.