Google working on mobile payment technology

 

Near field communications for Android.

Google is joining Citigroup and Mastercard to set up a mobile payment system that will turn Android phones into a kind of electronic wallet, the Wall Street Journal said, citing people familiar with the matter.

The new technology, which is in its early stages, will allow consumers to wave their Android phones in front of a small reader at the checkout counter to make payments, the Journal reported.

The planned payment system would allow Google to offer retailers more data about their customers and help them target advertisements and discount offers to mobile device users near their stores, the sources told the WSJ.

Google is not expected to get a cut of the transaction fees, the paper said.

Initially, holders of Citigroup-issued debit and credit cards would be allowed to pay for purchases by activating a mobile payment application developed for one current model and many coming models of Android phones, the paper said.

Google, Citigroup and Mastercard could not immediately be reached for comment by Reuters outside regular US business hours.

in Australia, ANZ Bank has teamed with Visa to trial a new iPhone case that similarly turns the Apple smartphone into a mobile wallet.

iTnews reported earlier this month that telcos were also re-examining their options around NFC and micropayments.

(Reporting by Sakthi Prasad in Bangalore; Editing by Dhara Ranasinghe)


Google working on mobile payment technology
 
 
 
Top Stories
ANZ looks to life beyond the transaction
If digital disruptors think an online payments startup could rock the big four, they’ve missed the point of why people use banks, says Patrick Maes.
 
What InfoSec can learn from the insurance industry
[Blog post] Another way data breach laws could help manage risk.
 
A ten-point plan for disrupting security
[Blog post] How can you defend the perimeter when it’s in the cloud?
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest articles on BIT Latest Articles from BIT
Pass on carbon tax savings, warns ACCC
Jul 24, 2014
The ACCC is warning businesses that supply "regulated goods" to pass on any cost savings ...
Have customers that won't pay debts?
Jul 10, 2014
The ACCC and ASIC have updated their advice when it comes to collecting debts.
Carpet cleaner faces court over online testimonials
Jul 4, 2014
The ACCC has initiated proceedings against A Whistle (1979) Pty Ltd, the franchisor of Electrodry...
You can now get 15GB of free online storage using Microsoft OneDrive
Jun 25, 2014
Cloud storage has reached both the capacity and price where it's a viable alternative to local ...
Another clever trick you can perform with Xero
Jun 25, 2014
Here is another way to reach out to particular subsets of your customers using Xero.
Latest Comments
Polls
What is delaying adoption of public cloud in your organisation?







   |   View results
Lock-in concerns
  29%
 
Application integration concerns
  3%
 
Security and compliance concerns
  27%
 
Unreliable network infrastructure
  9%
 
Data sovereignty concerns
  21%
 
Lack of stakeholder support
  3%
 
Protecting on-premise IT jobs
  4%
 
Difficulty transitioning CapEx budget into OpEx
  3%
TOTAL VOTES: 1041

Vote