Google turning smartphones into wallets: source

May 25, 2011
Photo illustration shows a a man using his mobile phone at an airport. Google on Thursday will launch a mobile payment platform that lets people use smartphones to pay at shops as easily as they use a credit card, according to a source familiar with the matter.

Google on Thursday will launch a mobile payment platform that lets people use smartphones to pay at shops as easily as they use a credit card, according to a source familiar with the matter.

Google is to unveil the system at a press conference in New York with the help of major financial institutions that have partnered with the California-based Internet giant on the project.

has invited news reporters to see its "latest innovations" but declined to provide any details.

The system will take advantage of near-field communication (NFC) chips in smartphones to essentially transmit financial transaction data with taps, waves or swipes at store checkouts, the source told AFP.

Google built its latest-generation "Nexus S" smartphone with NFC chips that turn devices into virtual wallets, allowing users to "tap and pay" for financial transactions.

South Korea's Samsung built the touch-screen handsets, which are powered by Google's Android mobile operating system.

Google chief executive said shortly before the Nexus S hit the market in December that he expects the tap-and-pay mobile technology to "eventually replace credit cards."

A mobile payment system centered on Android-powered gadgets could add to the momentum of Google smartphones in the fiercely competitive market.

Explore further: Apple a decade behind Japan mobile payment curve

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not rated yet May 25, 2011
Like the standard payment method in Japan for.. 10 years or so? Why o why reinvent the wheel so many times I wonder.
not rated yet May 25, 2011
no thanks. Time to disconnect the cell phones, time to cut the leash that employers have on people, time to cut the covert spy tracking box they make you pay exhorbant rates to have and maintain. Cell phones are a total rip off scam they would gladly offer them for free to us for the wealth of information and big brother powers if we weren't actually stupid enough to pay for out of our own pocket for this useless tool which irradiates your family and friends and everything around you as you take it with you. What a seriously horrible idea, owning a cell phone in this society should be optional, not virtually mandated by fascist employers (who would not hire someone if they had no cell phone. This isn't about selling yourself to an employer and more about being handed an electronic yoke to wear).
not rated yet May 25, 2011

maybe you should be a boss then... Or do you resent being a slave to your clients that you consciously choose to approach?