An interesting note about the latest Android 4.4 appeared on one of the blogs:

Instead, Android might be able to emulate credit cards, transit passes, and secure entry badges in a more straight forward way.

Is this the beginning of the end of plastic in the wallet?

http://www.androidpolice.com/2013/10/30/android-4-4-kitkat-will-reportedly-include-nfc-card-emulation-without-secure-element-improved-low-memory-device-support-new-sensors-and-more/