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Google exploring mobile payment system

January 11, 2011 Leave a comment Go to comments

NFC service could be introduced this yeat, according to Bloomberg.

Google Inc. is considering building a payment service that would enable users to make purchases by tapping or waving their mobile phones against a register at checkout, Bloomberg BusinessWeek reported Tuesday, citing two people familiar with the plans.

The service could be introduced this year, the sources said. It is based on near-field communication, or NFC, technology, which can beam and receive information wirelessly from 4 inches away.

BusinessWeek quoted Google Chief Executive Eric Schmidt describing NFC at a conference in November:”You’ll be able to walk in a store and do commerce. You’d bump for everything and eventually replace credit cards.”

Andy Rubin, Google’s vice president for engineering, declined to comment to the magazine about future services and products.

A single NFC chip on a mobile phone would contain a consumer’s financial account information, gift cards, store loyalty cards, and coupon subscriptions, and users may also be able to make online purchases from their phones, the sources said.

Originally posted at: http://www.totaltele.com/view.aspx?ID=461345&mail=422&C=0

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  1. January 16, 2011 at 2:36 AM

    sign me up

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