Update: PayPal files lawsuit to protect trade secrets: A reason worth fighting for. Read more on the PayPal blog here: http://bit.ly/jrSW90 - According to .Net Magazine Google estimates that by 2014, over 150 million devices will be NFC ('Near Field Communication') capable. Read more about the lawsuit here: http://bit.ly/l1HMpY
Using near field communications (NFC), through a system called Pay Pass, you will soon be able to 'swipe' (tap) your phone as you do your credit card. No more plastic in your wallet... pretty soon no more wallet! Just don't loose your cell phone which is limited for now to a Google Nexus S 4G, available from Sprint. The new initiative called Google Wallet allows users to track purchases, special offers and redeem coupons and discounts with a tap. Google Wallet supports Citi MasterCard and a Google Prepaid Card.
For more information:
Where you can shop with a Nexus S 4G:
Google Wallet Home: