Whereas Square looks to replace cash eventually, PayPal has a loftier goal — to kill the wallet and the credit cards inside of it. "We see the evolution as being 'the wallet in the cloud,' " said Osama Bedier, PayPal's vice president of platform and emerging technologies. "We think mobile is going to redefine commerce and not just e-commerce." – Visa is partnering with DeviceFidelity to bring that functionality to the iPhone by embedding a wireless chip in a case designed for Apple's phones. These financial titans have the advantage of being established and trusted.