Google Rumored To Be Working On Mobile Payment Service

Google Inc. (NASDAQ:GOOG) is rumored to be working on a mobile payment service that will be revealed on May 26th. The service would be expected to work on Sprint Nextel Corp. according to three sources with Bloomberg. The Google mobile payment service would allow Android users with specially equipped phones to pay for goods and receive coupons with their handsets. The mobile payment technology service is currently built into the Nexus S Android device on Sprint.

Near-field communication technology is being rolled out at cash registers and the Nexus S will work with those specific check-out devices. NFC will help Google boost revenue from mobile ads and discounts. Google plans on rolling out the service into 5 cities, including NYC, San Francisco, L.A., Chicago, and Washington D.C. Google will be using software and hardware from VeriFone Systems Inc. and ViVotech Inc. for integrating the NFC service.

[Bloomberg]

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