Engadget - The introduction of Google Wallet felt a little too good to be true, didn't it? It's magical, like the tech equivalent of pulling a rabbit out of a hat. In reality, the tech behind mobile payments has been around since 2003 on a much smaller scale using near-field communications, more commonly known as NFC. The idea behind Wallet (amongst other services, like ISIS) is contactless pay -- using your phone as a credit card -- and is just one of the many ways NFC can be useful in our everyday lives. In fact, we're only scraping the surface of what's theoretically possible.