We're getting closer to the day when your smartphone replaces your wallet, Fool contributor Tim Beyers says in the following video.

How do we know? Earlier this month, mobile payments processor Isis went live for those who have an Android smartphone with built-in support for near-field communications. Three of the nation's largest carriers support the technology: AT&T, T-Mobile USA, and Verizon. So does Google (NASDAQ:GOOGL). It offers the Isis app at its Google Play store.

To get started, shoppers download the app to a compatible NFC phone and load banking and credit card information. Checking out is a two-step process: Select the account to use and then tap the phone to a specialized point-of-sale module.  

Black Friday is likely to be the same mess it always is, so don't expect to see too many sharp-elbowed consumers shopping with Isis this weekend. Yet next holiday season could be a different story. Juniper Research estimates that we'll spend some $1.3 trillion in mobile payments annually by 2017.

Do you believe Juniper's estimates? Are you signed up for Isis? Please watch the video to get Tim's full take and then now and then leave a comment to let us know where you stand.