A method for supporting a plurality of instances of the same type of payment application (MasterCard PayPass, Maestro PayPass) on a wireless smart device using a system comprising the wireless smart device and a wireless reader communicating with the wireless smart device, the wireless smart device having an application manager (104, 106) having an application identifier, AID, uniquely identifying a type of payment application available to the wireless reader, a plurality of instances (108, 110, 112; 114, 116) of a same type of payment application for performing wireless financial transactions with an external device, each instance representing a separate account having a unique account number, and an application selection function, the instances each having an unique internal AID used by the application manager (104; 106) for identifying and internally communicating with the individual instances, comprising the steps of: the wireless reader requesting the wireless smart device to provide to the wireless reader information about the types of payment applications residing on the wireless smart device, and the wireless smart device returning to the wireless reader, in response to the request, the AID of the application manager; the wireless reader issuing a select command to the application manager (104, 108) which to the wireless reader appears as a payment application, selecting, by a user of the wireless smart device, using the application selection function, one of the plurality of instances to be active, wherein when one instance is selected, all other instances of the same type of application are deactivated; the application manager (104, 108) identifying one of the instances as active, the application manager (104, 108) communicating the select command to the active instance identified by its internal unique AID and being hidden behind the application manager; and in response to the select command, the active instance responding with the AID of the application manager to the wireless reader. the wireless smart device having an application manager (104, 106) having an application identifier, AID, uniquely identifying a type of payment application available to the wireless reader, a plurality of instances (108, 110, 112; 114, 116) of a same type of payment application for performing wireless financial transactions with an external device, each instance representing a separate account having a unique account number, and an application selection function, the instances each having an unique internal AID used by the application manager (104; 106) for identifying and internally communicating with the individual instances, comprising the steps of: the wireless reader requesting the wireless smart device to provide to the wireless reader information about the types of payment applications residing on the wireless smart device, and the wireless smart device returning to the wireless reader, in response to the request, the AID of the application manager; the wireless reader issuing a select command to the application manager (104, 108) which to the wireless reader appears as a payment application, selecting, by a user of the wireless smart device, using the application selection function, one of the plurality of instances to be active, wherein when one instance is selected, all other instances of the same type of application are deactivated; the application manager (104, 108) identifying one of the instances as active, the application manager (104, 108) communicating the select command to the active instance identified by its internal unique AID and being hidden behind the application manager; and in response to the select command, the active instance responding with the AID of the application manager to the wireless reader. the wireless reader requesting the wireless smart device to provide to the wireless reader information about the types of payment applications residing on the wireless smart device, and the wireless smart device returning to the wireless reader, in response to the request, the AID of the application manager; the wireless reader issuing a select command to the application manager (104, 108) which to the wireless reader appears as a payment application, selecting, by a user of the wireless smart device, using the application selection function, one of the plurality of instances to be active, wherein when one instance is selected, all other instances of the same type of application are deactivated; the application manager (104, 108) identifying one of the instances as active, the application manager (104, 108) communicating the select command to the active instance identified by its internal unique AID and being hidden behind the application manager; and in response to the select command, the active instance responding with the AID of the application manager to the wireless reader.