Google Working On A Mobile Payment Service

Posted Jan 4, 2011

Google Inc. (NASDAQ:GOOG) is working on a mobile payment service that would let you buy groceries simply by tapping or waving a mobile phone against a register during the check-out. This near-field communication (NFC) service may even debut this year. Google will be joining several companies that want to tap into the $1.13 trillion global mobile-payment transactions market in 2014. This past November T-Mobile, AT&T, and Verizon formed a venture called Isis to offer NFC services in 2012. PayPal said that they may be starting an NFC service in the second half of 2011 and they said that they are open to partnerships. [BusinessWeek]