Greensboro, NC - For years, the wallet has been the number one thing that a hacker can crack.
As more and more people turn to technology and Smartphones carry a treasure trove of valuable information.
We don't need a calendar anymore. We don't need an address book anymore. And our wallets might be next.
Imagine waving your Smartphone at the cash register. No cash or credit card required. There's a new app that transforms your phone into a digital wallet.
App makers say it will allow users to be smarter with finances and have remote control to personal accounts.
The question is would you do this? I mean what if you lost your phone?
"It depends on what you have in your phone. And if you have all your information in your phone," said Nir Ksherri, Ph.D, UNCG
"I would rather give up neither," said Nick Porter, an Apple user.
"I don't think I could just switch to an iPhone and have everything on it. I need my wallet and my iPhone," said Maggie Love, an Apple user.
"I guess it's easy access some people are really bad with keeping paper and everything so for some people it's easy to have technology, but I always like to have a hard copy of things. I guess I'm old fashion," said Laina Taborn, Apple User
"Hard to teach old dog new tricks," said Porter.
According to a USA Today article, worldwide mobile payment transactions will grow from close to 2 billion to more than 600 billion by 2016.
With that in-mind, a cyber security expert has a warning.
"Nothing is 100%...anything can be hacked. Not just Smartphone ...anything can be hacked. Basically you have to be careful how you use your mobile device," said Dr. Ksherri.
Doctor Kshetri, added if you plan to toss the wallet for the digital wallet. You need to purchase an anti-virus app. But you'll still need to be careful with the added protection.
The rumor of the new app comes as the Apple releases its iOS 6 new software update.
Apple says iOS 6 has over 200 new features including all new Maps, new Siri features, Facebook integration, and Shared Photo Streams.