Product Page: http://www.google.com/wallet/
video: http://www.youtube.com/watch?v=gZGoXvzW4WU&feature=share
PayPal sues Google...
http://androidandme.com/2011/05/news/paypal-sues-google-due-to-the-release-of-google-wallet/
We've had mobile phone wallet systems in Japan since 2004. I never bothered activating the service, but it has grown significantly over the years. Even though almost every phone sold in Japan has the NFC capability not everybody takes advantage of it. It was the younger, more tech-savvy people who were early adopters of this from my experience. However now I'm seeing more and more average people are using this now particularly if they use public transportation. It's quite handy just to wave your phone to get on a train, get off a bus, or to pay for a taxi.
I wonder how the Google wallet system will make inroads into an established market like Japan. Will they take the traditional route by going through the major mobile carriers who have a 7 year lead on them?
If anyone can pull off the holy grail of smart money it's probably Google. I have absolutely no sympathy for Paypal; they could have done this and also micropayments online if they'd pulled their finger out. Plus their customer service is amongst the worst in the world in my experience.
Don't fancy getting my phone nicked in the future!
Ed