See the link below for more on the battle for your future wallet
The inclusion of NFC is no surprise, but Google's unqualified support means that NFC-enabled Android handsets will proliferate next year, even if it remains unclear what we'll use them for. Even the good Mr Schmidt reminded reporters that it will be some years before Android handsets start replacing wallets. But if Google embraces the model it could happen sooner than most of the industry expects.
NFC, or "N-Mark" as it is more properly known (now that "NFC" has become a generic term), consists of three parts: a tag that can be powered and read by induction, a reader that can power and read a similar tag, and a secure element which can store cryptographic secrets in perfect confidentiality.