Each month Factory Forecast will treat you with inspiring news, views and future trends from all genres and cultures including, architecture, technology, fashion, automotive, interiors, pop culture and of course Product design.  We’ll talk about the factors which influence the ever evolving design industry, discuss the desires of consumers and give you insight and opinion on key emerging influences.

Mobile Wallet – The concept of a single personal credential on your phone.

Also known as an e-wallet it uses NFC to allow users to make electronic commerce transactions quickly and securely, eliminating the need to remember all those multiple passwords. Bank accounts  and ID documents can be stored on a mobile phone and passed to a merchants terminal wirelessly.

Near field communication, or NFC, allows synchronisation and sharing between other NFC devices or tags with a single touch. A Smartphone or tablet with an embedded NFC chip can send encrypted data ‘near field’ (within a few centimetres) allowing shoppers to make simple credit card payments by waving their NFC device in front of a reader.

Speculation suggests that mobile wallets will eventually replace physical wallets as their capabilities make everyday activities easier and more convenient.

There are 140 NFC Forum members including LG, Nokia, HTC, Samsung and Google to name a few.   So, if Google’s involved, there must be a trend brewing, right?  It’s already rumored that Apple are to build NFC chips into the next iteration of iPhone. This is a perfect example of development of new technologies and capability fuelling the development of new products.  Technology is a key driver in pushing forward innovation.  With rival Google already on the case with the Nexus S Android device the rest of the industry is forced to catch up as Google Wallet aim to ‘drive a brand new shopping experience’.