According to news emerging from Google, the web search giant is planning to team up with Citigroup Inc. and MasterCard Inc. to enable NFC payment technology in upcoming Android mobile devices which allows the users to make payments at checkouts in stores by just waving their phones at a reader at the counter. This move by Google aiming to make mobile payments easier is also an attempt at boosting its advertising business. Inside sources have said that the payment system that is being planned will allow Google to provide more data to the retailers which will give them more information about their customers and will also enable them to target ads and offers to the customers who use their mobile devices near their stores. It is expected that Google will not ask for a cut of the transaction fees.
At the moment, the project is still in its initial stages and will allow the users of Citigroup debit cards and credit cards to pay for whatever they purchase through a mobile payment application which is currently available for only one Android device but is soon expected to be released for many more smartphones running on the platform. This concept aims to turn smartphones into effective e-wallets. The users will also be able to keep track of their spending through an application on their phones which can also be used to manage credit card accounts. VeriFone Systems Inc., which makes credit card readers for checkout registers, is also involved in the venture. More of the contactless devices will be rolled out by the company which allows the users to pay with just a wave of their cards near the machine. The same readers will be modified so that they can also be used with smartphones through NFC technology.
