Reading these first few replies you could be forgiven for thinking we were in the dark ages, burn the witch, etc.
Truth is times are a changing and technology moves on. I have no idea if the new iPhone or the watch will come with NFC. If it does then knowing Apple it will take NFC to another level. Will this happen overnight, no of course it won't.
Just as we never actually got rid of paper, we will never actually get rid of a wallet. But in places where this takes off, less and less people will carry one.
People will have the choice of opening and starting their car with their phone, opening and locking their front door. Paying for things, clocking in to work, going to the theatre, sports events etc.
If anyone can make this happen, it's Apple. Yes other devices have had NFC for years, like giving a caveman an electric toaster, they just didn't know what to do with it, so they used it as a hat.
I think we're headed to a place where the wallet is more of an accessory, and the main payment/ID/communication will be the phone. However, there is a dark side...
You get pulled over, and the police ask for your ID. Would you give them your phone, which can be scanned, and have all of the information on it (GPS tracking, communication, where you've been on the internet, etc.) downloaded to their database, or a card that simply has your picture, number, and more work has to be done to see where you've been?
Call me a Luddite (heh... on a computer forum), but I'll take the ID card.