Google has officially launched its Google Wallet service, bringing Near Field Communication (NFC) based cashless transactions to retailers. The service is launched in the sense that Google have announced it, not launched in the sense that people can use it in shops across the USA.
Google Wallet lets you use a mobile phone (containing a NFC chip) as a replacement for your credit card when shopping. Instead of having to hand over troubling coins, notes or credit card details shoppers can store their Citi Mastercard, or Google pre-paid card, on their Google Wallet and simply wave their phone near a compatible paypoint in store.
From launch the service is compatible with the Nexus S 4G, however Google are planning to integrate the service into more mobiles over time.
Using mobiles as credit card replacements is about to become a Very Big Thing. In the US, Square have announced their Card Case service (where you use a credit card for one purchase at a store, then can use your smartphone for future ones), and in the UK o2 and Orange are both creating cashless transaction systems.