The real action worth tracking is in mobile P2P payments. The emerging tech for smartphones is an existential threat to the major credit card companies. Any combination of Google Wallet and M-Pesa is a knockout blow to credit card payment systems. The combo will eventually metastasize in the developed world.
Vendors who migrate from card payments to mobile payments will find many advantages. They won't lose gross margin by paying credit card charges. Reducing the number of steps in a transaction means less friction for purchases. Consumers will love the simplicity of mobile transactions and spend even more of their dwindling middle-class paychecks. The unbanked poor in the US will finally join the mobile revolution once they see how quickly M-Pesa fills their SNAP accounts. Everybody wins.