Google to Roll Out Mobile Payments with MasterCard and Citigroup
Following earlier reports of Google testing mobile payments, the company now looks set to roll it out through a partnership with MasterCard and Citigroup.
According to WSJ, Google will begin embedding the Near-Field-Communication (NFC) technology within its Android devices that allows "consumers to make purchases by waving their smartphones in front of a small reader at the checkout counter."
This technology is not new to many credit card users whose banks allow them to do so by waving their cards, only this time they will be using their Android smartphones and go 'cardless' when paying.
The move is expected to boost the advertising business of the search giant, its primary source of revenue, as "phone users would be able to get targeted ads or discount offers, which Google hopes to sell to local merchants", reports the journal.
This development opens up new, significant market opportunities for Google, which Android system is now the second-most popular smartphone operating system in the US, and only behind RIM.
Apple's iOS, Google Android's main competitor, has also been rumored to make available NFC capabilities within its upcoming iPhone release.
[Source: WSJ]
According to WSJ, Google will begin embedding the Near-Field-Communication (NFC) technology within its Android devices that allows "consumers to make purchases by waving their smartphones in front of a small reader at the checkout counter."
This technology is not new to many credit card users whose banks allow them to do so by waving their cards, only this time they will be using their Android smartphones and go 'cardless' when paying.
The move is expected to boost the advertising business of the search giant, its primary source of revenue, as "phone users would be able to get targeted ads or discount offers, which Google hopes to sell to local merchants", reports the journal.
This development opens up new, significant market opportunities for Google, which Android system is now the second-most popular smartphone operating system in the US, and only behind RIM.
Apple's iOS, Google Android's main competitor, has also been rumored to make available NFC capabilities within its upcoming iPhone release.
[Source: WSJ]
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