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Google working on mobile payment service claims report

Mat Bettinson
Google working on mobile payment service claims report

 

Google is set to partner with financial giants MasterCard and Citygroup in a new mobile payment systems according to a Wall Street Journal report.

Describing the service in the 'early stages' of development, the Journal quotes unnamed sources "familiar with the matter" who revealed that Citygroup-issued bank cards could soon be linked with Android smartphones.

The technology is aimed at so-called Near Field Communications (NFC) which is a radio based technology already embedded within a large number of credit card readers.

Google will reportedly not take a cut of the revenue but rather make money from advertising opportunities.

The internet giant will entice retailers by offering more data about their customers, enabling them to target adverts and discounts to Android handset owners in geographic proximity to the stores.

 

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Tags: Google, nfc, mobile payments

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