In a post on the company’s blog, PayPal’s president Scott Thompson boldly predicts the end of the physical wallet may be sooner than you think. 

"We believe that by 2015 digital currency will be accepted everywhere in the U.S. — from your local corner store to Walmart. We will no longer need to carry a wallet," Thompson said.

Thompson cites the fact that PayPal, a subsidiary of eBay Inc., recently reached 100 million active accounts as proof that traditional payment methods like cash and checks are quickly approaching obsolescence. 

Thompson said the company is so confident in its prediction it is asking five of its employees in the San Francisco area to participate in an experiment where they use only digital currency to pay for all of their purchases. Thompson said the names of those employees would be announced July 11.