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Handing cash to your babysitter or swiping a credit card at the store may soon be obsolete, as QR codes and digital readers make it possible for individuals to transfer money to each other by "bumping" cell phones. The potential for this new payment system is huge and the race is on to define the technology and dominate the market. Tech Tuesday examines the players and the dueling devices in the emerging realm of mobile payments.
The new PayPal app allows people to send money to family and friends from an iPhone: