Google Wallet took off today, in a move that might change payment services forever. The service debuted on Sprint’s Nexus S 4G smartphone and we’re dealing here with a mobile payment service that makes the handset replace plastic credit cards.

The Wallet service has been in testing phase since this spring, involving partners from Citi, Sprint, First Data, Visa, American Express and more. Nexus S handsets are privileged by this offer, since they’re the first to benefit from the Wallet service. Google’s revolutionary method of payment involves Near Field Communications technology (NFC) and inside the software you’ll find the virtual versions or replicas of physical credit cards.

You can use the Google Wallet to pay with a Citi MasterCard and a Google Prepaid card and these methods support funding from physical credit cards. There’s also an initial bonus of $10 added to the Prepaid card for early Wallet clients. Over 140,000 Paypass locations are available in the US, all supporting these new payment methods. Expect coupons, deals and discounts soon enough!