My Way News - Google tries to replace wallets with smartphones
My Way News reports: "Google Inc. is trying to nudge consumers and merchants into a world where the smartphone has replaced the wallet as the container for credit cards, coupons and receipts [...] The Internet search and advertising company faces tough competition from cellphone companies, payment card issuer Visa Inc., eBay Inc.'s PayPal payment service and others. All of them want to play the central role of tying together phones, retailers and banks into a new payment system."

Comment: Once again, this is not the mark, just a trend we are watching. I always feel that I need to include a disclaimer, you know how gullible people can be. The mark may have nothing at all to do with payment systems, we are just watching the trends. This trend is important because there are many parts of the world in which people don't have credit cards but they do have cell phones, so mobile payment systems bring a much larger part of the world into the global economic system.