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.
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Sad to think that NFC is so overlooked that even Engadget(who only covers stuff they can advertise according AOL policy) is bringing up the tech. Personally with all the security and privacy concerns. People Just may not be ready for more secured info floating in the air anywhere. Sad but obviously companies have bigger concerns on their plates now.