A recent update to Google Wallet lets users not only pay with a single tap of their mobile phones but also redeem coupons and earn loyalty rewards.

Approximately 500 local businesses in four cities across the country are using the LevelUp loyalty app to let customers pay via mobile and earn rewards.

Frozen yogurt franchise Yumilicious is extending its loyalty program into mobile at several locations as a way to bring another layer of customization to the customer experience.

CiCi’s Pizza of Tampa Bay, a franchisee with seven units in the Tampa, FL, market is using a mobile loyalty program to reverse a double-digit year-over-year negative sales comparison trend.

Chicago merchants Swirlz Cupcakes, Green Genees and Lincoln Park Massage are among the local business letting customers receive offers and redeem rewards via a mobile wallet application.

Near field communication has the potential to generate billions of dollars of incremental revenue from mobile marketing services alone, not even factoring in payments, which will be a watershed moment for mobile, according to Razorfish.

With Amazon.com already a major player in mobile commerce via its mobile Web site and applications, the company is now rumored to be setting its sights on the increasingly competitive near field communication arena.

Wicked Spoon Yogurt is the first food establishment in New York to partner with mPunch for a mobile-only loyalty program that rewards consumers via their device.

With Google, MasterCard and Citi reportedly teaming up to go head-to-head with the U.S. carriers’ Isis joint venture with Discover Card and Barclaycard, a war in the near field communication space is on the horizon.

ORLANDO, FL – Many merchants still have reservations about near field communication and mobile payments that must be addressed to convince them to make the necessary upgrades to their point-of-sale systems, according to a CTIA panelist.