According to Google, we are on the verge of a major shift in payment methods, and that could very well be true. With the introduction of the Android app Google Wallet a few months ago, Google is going to want you to ditch your traditional wallet in favor of an electronic one.

A lot of our payments are already coming out of one card or another – whether it’s a credit or debit card, or we’re taking advantage of discounts received from using a virtual loyalty card. The convenience of putting all of that in one place is unparalleled. (Unless of course your phone battery dies).

The ability to pay for something simply tapping your phone to a device which will read and withdraw the payment is environmentally friendly (no more little scraps of paper from your credit card payments) and convenient because not only is it centralized but it provides you with a record of all of your payments making it easy to keep track of your spending.

A video put together by Adzag demonstrates just how much easier life could be with a mobile wallet.

The advent of Google Mobile, coupled with great contact apps that replace the need for business cards, could take us into a purely digital age where wallets and business cards are a thing of the past.

Until Azdag’s video becomes a reality, and your wallet is on your phone instead of in your pocket or purse, there are a few ways you can use your phone today to make and receive payments, get loyalty points and more. Check out 8 ways we’ve covered in the past, including Square, Paypal and BitCoin.