Mobile payments are expected to balloon to a $600 billion industry by 2016, and Google wants in on the action -- but it isn't alone. A consortium of retailers has fired a shot across Google's bow and plans to rival Google Wallet for mobile-payments domination. The stakes are high, the rewards are great, and there's one company that Austin thinks is better positioned than the rest to dominate here.

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Austin Smith owns shares of eBay. The Motley Fool owns shares of Google and Starbucks. Motley Fool newsletter services recommend eBay, Google, and Starbucks. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.