1-year ago all the discussion around mobile payments centred with Google and their vision for wallet-less payments. A year on and as with all things technology, the landscape has evolved incredibly quickly.
Paypal has been the first to bring out a rival to NFC technology, the power behind both Google & Vodafone's concepts. With Paypal you wouldn't need anything tangible to complete the transaction, not even your phone. Simply your phone number and PayPal PIN. Alternatively you could pay with your PayPal card. Currently in early trials in the states this will likely have a higher uptake than the other solutions because NFC technology is not widespread yet.
However! That might be about to change as rumours fuel the message boards with talk of an NFC enabled iPhone 5 this year! Coupled with Vodafone's clear intention to join the NFC party with payment heavyweights, Visa this will be a competitive marketplace from the outset. The partnership between the 2 is fresh and full details on their intentions are scarce but it is likely they will attempt to rival Google directly and with such a large and globally trusted payment provider in tow, there is every chance Vodafone could give the own-branded Wallet of Google a real run. Particularly as even following testing the only major supplier to climb on board with Google is Citibank.
So while we all wait until Apple tell us what our technology can do in 6 months, we'll have to wait and see if the 350 million-strong user base of Paypal can compete with payment giants like Visa and innovation guru's like Google. Personally I think Vodafone's scoop of Visa as a partner will prove a master-stroke and may leave Google dwindling in their shadow. Something that they are increasingly growing used to these days.
Watch this space, because how we buy things is about to experience a huge change!
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