PayPal's mobile payment salvo

Mobile payment technology will one day make our wallets obsolete but which model ends up leading the way and who emerges as the dominant player is hard to predict.

The mobile payments story is gathering pace and the latest move by Paypal to launch a mobile payment device for smartphones brings Australia one step closer to a reality where our wallets become obsolete. 

Today’s infographic takes a look what's going on in the mobile payments scene, who the major players are and the major models in place. 

Twitter founder Jack Dorsey's baby, Square, is the pioneer in the market and PayPal now joins Verisign, ROAMPay and Intuit in a rapidly expanding market.

The volume of all types of mobile payments is expected to top $US200 billion by 2015, up from $US16 billion in 2010, according to research and advisory firm Aite Group. 

PayPal is already a dominant force in the online payments segment and by rolling out its product across a number of geographies could make a significant dent on its rivals.

Today's infographic was created by Voucher Codes.co.uk and was sourced from Infographics Central