The "mobile wallet" idea is similar to what was being pushed in the 90s as "M-Commerce" -- using cell phones as mobile payment devices. But the current manifestation of the idea sees mobile wallets also carrying electronic versions of other things usually found in wallets -- membership cards, loyalty cards, and other forms of identification.
Advocates of the mobile wallet concept include credit card companies, hardware vendors, credit card terminal companies, and traditional wireless companies like Nokia and Cingular. Industry representatives project there may be as many as 25 million wireless subscribers in North America by 2011.