With the increasing craze for Near Field Communication (NFC)- the latest contact less payment type, Gartner research firm expects the mobile payment users to surpass 141.1 million in 2011, up from 102.1 million in 2010.
NFC is a chip that transfers information wirelessly, with which you can pay for things by waving your phone at the register.
Google has already entered into a partnership with PayPal, that lets people transfer money from PayPal-funded accounts by tapping two Nexus S Android smartphones together.
Samsung, Nokia and Google are expanding the usage of NFC payment system in devices.
It may be disappointing that the iconic iPhone 5 does not come with NFC support, while many other smartphones are on the pipeline.
Google has combined its wallet with Google offers, which generates discount deals.
For many mobile payment backers the Holy Grail is to link digital wallets to other apps on a phone.
However, “We're acutely aware that simply moving (from) a physical wallet to ... an electronic one is not enough,” says Sam Shrauger, PayPal's vice president of global product strategy.
However it’s not known if shoppers will carry multiple payment or wallet apps or just multiple cards within a digital wallet.
Google's Bedier is equally sanguine. “Part of why we feel there's an opportunity in this space for Google to make a difference is there are too many solutions that are all fragmented and don't work well together. The whole essence of payment has been some level of standardization. Let's create the right opportunity using our weight to create the right set of standards.”