In the near future, we could be paying for everything – from a movie ticket to our morning coffee – with phones and apps, if plans by PayPal are successful.

Imagine a world where you could leave home without a wallet – and still spend money. You would be able to go shopping, catch a movie or grab something to eat; but fumbling for your credit card or paper money would be a distant memory.

Mobile technology already exists to allow payments direct from a digital wallet, but the wallet-free lifestyle has still to be realised.

But PayPal, the internet payment service tied into internet auction giant eBay, thinks shopping without a wallet is nearer than people might think. BBC Future spoke to Paypal’s vice-president of global products, Hill Ferguson about the company’s plan to make money digital.

If you would like to comment on this article or anything else you have seen on Future, head over to our Facebook page or message us on Twitter.