ReadWriteWeb: "We may still be a few years away from the mainstream adoption of mobile payments, but that hasn't stopped a whirlwind of buzz and product development from going on in the space. Some of the biggest players in tech, telecommunications and finance are all working on solutions that will enable people to pay for everyday items using only their phones.
So what's the hold up? For one, there are technical challenges. Technologies like NFC are not yet ubiquitous in handsets, and smartphone adoption itself is still growing. Few and far between are the retailers who have the infrastructure in place to support accepting payments this way."