NFC payments are still trying to take hold, but while at MobileBeat, I’m listening to Bill Gajda, Head of Global Mobile Product, Visa Inc. about the future of NFC.  He is saying that in NY taxi cabs and subways are starting to accept NFC payments.  Big box stores are just starting to come on board however, that is not the interesting opportunity.

“Visa competes with cash … we are hitting the limits of the percent of ‘electronicfy’ payments is hitting its limits.   The opportunity to further electronicfy electronic payments is through the phone … Kenya has leap frog everyone with moble phone payments using generic dumb phones by using text.  A big reason of this is the only other way to really move money was the bus; giving money to the bus driver”.

NFC and company like Square  are arrogating micro merchants, book sellers, baby sitters etc..   And that is whats interesting to Visa, is the idea of all these merchanges not having to spend time collecting payments.  Companies like square allow on demand payments, this is a huge opportunity.

Square 2 years from now will be successful, but others like intuit will come in and compete.

Google wallet:  limit 1 bank, 1 phone OS, 1 eco system. Since its not fully open, this will be a wait and see opportunity.

There are already millions of NFC handsets out there, so the bases for growth has already been set.

{this still needs an edit}