It appears as though Google is not alone in their dream of a world where consumers can ditch their plastic credit cards in lieu of their smartphone for way of payment. While Google may have been quick to unveil their mobile NFC payment system (Google Wallet) to the public, the concept now seems to be catching on quickly.
According to a recent Wall Street Journal report, the niche will soon see its own stiff competition as the likes of Walmart and Target have joined a group of fellow retailers to develop their own mobile payment system. While most of the other retailers have yet to be unveiled, the Wall Street Journal reports the list to include fast food companies, big name retailers and drug stores.
Google seems to be taking the news in stride stating,
“We think it’s great that there are other companies innovating in the payments space. This will create more choice for consumers, and in the end we believe choice is a good thing.”