Tuesday, May 24, 2011

Google to Unveil it's NFC Mobile Payments Platform on Thursday

Announcement at Press Event on Thursday at 11:15 AM EST.

According to reports, Google is preparing to roll out a payment system on Sprint phones that would use near-field communications (NFC) technology.   Bloomberg reported that the service would be available across five different U.S. metropolitan regions: New York, San Francisco, Los Angeles, Chicago and Washington, D.C. 

A model demonstrates a Nexus One smartphone at Google headquarters in Mountain View, California January 5, 2010. REUTERS/Robert Galbraith/Files
Google Inc will take the wraps off a mobile payment system on Thursday that lets consumers pay at checkout with phones instead of cards, a source said, hoping to beat Visa and others to the punch. The Internet search and advertising leader will work with MasterCard Inc, the world's second-largest credit and debit card processing network, to launch the system, the source familiar with the matter told Reuters on Tuesday. Google has teamed with MasterCard and Citigroup Inc to develop the system, the Wall Street Journal reported in March. It has now signed up retail partners Macy's Inc, American Eagle Outfitters Inc and Subway, though it is unclear if the project will be launched nationwide or just in New York initially, the Journal cited sources as saying Tuesday.  <<continue reading>>


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