What's in your (mobile) wallet?

Taken from: http://online.wsj.com/article/SB10000872396390444180004578016383395015570.html?mod=djem_jiewr_IT_domainid

In this Wall Street Journal technology article it notes:

Leslie Fiet wouldn't mind if her customers paid for their sweet treats with a smartphone instead of cash or plastic. But in the eight months since the owner of Mini's Cupcakes in Salt Lake City installed a device that can accept mobile payments, no one has tried it.

"Nobody really has a mobile wallet," Ms. Fiet said, referring to the digital replacement for traditional credit cards and debit cards that can be loaded into a phone and used for payment.

Ms. Fiet's experience highlights the many hurdles facing widespread adoption of mobile payments. Banks, merchants and technology companies have bet billions of dollars on the technology, but those investments likely will take years to pay off. Even early-stage winners in the race to devise a new standard for mobile payments, such as Google., have barely made a dent in what is expected to be a giant market later this decade.

It is a great technology - the campus uses NFC (Near Field Communication) with the Q-Card, but the jump from a campus with students required to have the NFC / RFID Q-Card to the real world seems to be hard to do.  The new iPhone 5 doesn't have a chip for mobile payments, and that is a deterrent in the move to the mobile wallet concept!!