180 million Americans use credit and debit cards to shop today and the market is growing even more rapidly Worldwide as credit become more accessible. Android's upcoming version 2.2 (named Gingerbread) is apparently going to support a touch and pay system that will use near-field communications and GPS to make a payment on the mobile phone. The new Android phones will have a chip that let you tap your phone against special sensors to complete a specific action like paying with a credit card. Many pundits will likely say their are security risks but hopefully Google will take the transaction layer out of the carriers hands and put it into a company like PayPal who has likely seen every scam their is. I would also expect Google to just provide the infrastructure layer as well and an API so retailers can easily build upon applications. The credit card industry already has standards which Google will be proliferating on mobile devices so pundits don't have to worry about industry fragmentation. This could enabled tremendously fast adoption and will likely spur many new companies. No longer will Android phone users need to carry a wallet with credit cards and loyalt cards. Companies like Groupon should be scared!