Google Working On Mobile Payment System
Google Working On Mobile Payment System
Tech insiders have speculated for several months now that Google, the search giant and king of the tech companies would soon be announcing an endeavor into the fast-emerging mobile payments arena, talk that has amped up in recent weeks. Now, according to a report in the Wall Street Journal, Google seems to moving forward with just such a plan.
The report says that Google has quietly forged a partnership with MasterCard and Citigroup to begin testing of a new mobile payments system designed for use with Android devices. According to the story, Google has combined “one current model and many coming models of Android phones” with existing Citigroup-sponsored debit and credit cards, utilizing the phones' NFC chips with VeriPhone readers.
In addition, the Mountain View, California-based search company has filed a patent describing the software behind the new system. It describes an application that allows Google to serve as a third party broker receiving shopping cart info of customers placing orders through any device, allows users to select shipping options and other pertinent info, and calculates a total order cost before collecting payment, coordinating shipping, and forwarding the order information to the seller.
Tech insiders have speculated for several months now that Google, the search giant and king of the tech companies would soon be announcing an endeavor into the fast-emerging mobile payments arena, talk that has amped up in recent weeks. Now, according to a report in the Wall Street Journal, Google seems to moving forward with just such a plan.
The report says that Google has quietly forged a partnership with MasterCard and Citigroup to begin testing of a new mobile payments system designed for use with Android devices. According to the story, Google has combined “one current model and many coming models of Android phones” with existing Citigroup-sponsored debit and credit cards, utilizing the phones' NFC chips with VeriPhone readers.
In addition, the Mountain View, California-based search company has filed a patent describing the software behind the new system. It describes an application that allows Google to serve as a third party broker receiving shopping cart info of customers placing orders through any device, allows users to select shipping options and other pertinent info, and calculates a total order cost before collecting payment, coordinating shipping, and forwarding the order information to the seller.
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