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Now Playing: 3-22-13 Marketplace Tech: The Mobile Payment Wars

PayPal and Google see a future where you go into a store and use your smartphone to pay. These are called electronic wallets and recently Mastercard, wary of the competition, said it will start charging a controversial extra fee to some companies that want to run Mastercard transactions through their e-wallets. But the card company isn't stopping there. Mastercard's Ed McLaughlin says his company has a wallet of its own.