The days of carrying a wallet full of cash or credit cards may be nearing an end sooner than you think. Thanks to an application called Google Wallet, all you need to do is simply swipe your cell phone.

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Dave Karr owns Webster on the Ridge Wine and Liquor. His is one of three companies in Rochester using Google Wallet. Karr knows his customers are young and tech savvy.

"I just wanted to be a part of it," said Karr. "I just thought it would give them another opportunity to get specials, coupons, whatever they would do normally rather than the hard print copy. That's sort of going out of style."

"It’s a fascinating application that allows the user to pay for goods and services around the area using just their cell phone," said Andrew James of First Capital Payments.

First Capital Payments is a credit card processing company in Rochester. Of its 3,000 clients, only two others are using the system.

"It gives merchants the opportunity to kind of wield some of the same power the big box stores have had for decades. They're now in the same conversation," said James.

Nationwide there is an estimated 300,000 companies that accept Google Wallet. Any merchant with an electronic reader has the ability to accept Google Wallet as a form of payment. All you have to do is swipe.

As safety is always a concern, the first step in protection is a pin number that has to be entered to access the phone.

"Well, what if I were to lose my phone? All my information is on there. That's kind of scary. The secure element can be wiped, erased, remotely by phone," said James.

Currently, Google Wallet is only being offered on the Google Nexus 4G cell phone on the Sprint network. Customers and merchants say it needs to be expanded.

"Currently, Google and all the major players are in talks to expand the offering to beyond simply Sprint. Verizon, AT&T are in discussions in doing that. In terms of a phone, they are looking to expand beyond just the Nexus and looking at all android based phones in the near future," said James.

"It’s limited now to just one phone. So, in the next couple months, when it expands, I expect it to increase," said Karr.

James believes sooner rather than later people will begin to ditch the wallet as market data shows Smartphone use is rapidly accelerating.

"We see Google Wallet being an important player in kind of reestablishing the mom and pop businesses and really getting a strong sense of community reestablished,” said James.