Safely tucked up in this case along with a credit card and drivers license. The case is easy to open and close, water tight and slips easily into a back pocket. As far as am concerned the lanyard, carabiner and metal ring can be junked as all they do is rattle annoyingly and serve little to no purpose in my own cycling application.
A friend gave me one of these cases. My first thought was - kind of cute, but why do I need this? Well, after using this for a few rides, I've come to appreciate how well it works and how easy it is to use for credit cards, cash, insurance card, license, etc. Much nicer than using a baggy. I've actually started using it as my primary wallet. Makes a great gift too.