Royce Leather, founded in New York in 1974, is hoping to extinguish lost-wallet woes by introducing the first ever wallet equipped with GPS tracking. Owners of the wallet can use a smartphone to pinpoint the wallet’s location should it go missing. The GPS technology has a limited range of just 100 yards, so hopefully it doesn’t take folks too long to realize their wallet is gone.
CEO of Royce Leather, Andrew Royce Bauer, was “determined to elevate the functionality of the traditional wallet. You should never lose it.” Besides GPS tracking systems, his company is also working fingerprint technology and RFID blocking technology.
Currently, the wallet is exclusively available through Macy’s for $50.