PayPal Tries EWallets

The method uses text messages to transfer payments.  The article goes on to provide a good overview of the current market, tests underway, and the belief by many that NFC will emerge as the standard for contactless payment via cellphones.

 " With the acquisition of Fig Card PayPal is laying down a marker that the pioneer in disruptive payment won’t be left behind in the coming e-wallet revolution. The still arguably pre-nascent business is attracting new big tech players, like Apple and Google, while the traditional credit card players move towards creating systems that would make your smartphone your credit card ... "