Today in Mobile

Google unveiled its long-awaited mobile payment system during a press conference in New York today, and the company has forged an impressive alliance: Citibank, MasterCard, Sprint and First Data are among the initial partners, and Google Wallet will be supported by more than 300,000 retail outlets and restaurants at launch. Google is enticing consumers by offering $10 in a new account, and the company is clearly hoping that the system’s discount offers will be enough to convince them to continue using the system. But the mobile payment space still has some substantial hurdles to overcome — from a lack of NFC-enabled handsets to changing the way consumers think — so this space will evolve much more slowly than some of the headlines would have you believe.