The Google Wallet waiting game

Mobile phones aren't going to replace your run-of- the-mill wallet just yet with customers still not buying the hype.

Many big-name US retailers from Gap to Toys R Us are partnering with banks, payment processors and Google to let shoppers tap their mobile phones instead of swiping their credit cards to pay for goods. But the new mode of payment is not expected to take off in earnest for at least another couple of years.

A KPMG study released this week found only 23 per cent of consumers were willing to use their mobile phone in place of other forms of payment, with 30 per cent of younger adults much more willing to do so.

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