Now you can really pay as you go: Google to unveil ‘mobile wallet’ phone that can be swiped as credit card
From the page: “Google is today set to unveil a new kind of payment system which will allow a mobile phone to be swiped like a credit card.
The internet search giant has been working with MasterCard Inc, the world’s second-largest credit and debit card network, and Citibank on the project.
It is set to be unveiled in New York and Google has signed up retail partners Macy’s, American Eagle Outfitters and Subway for the launch.
However, it isn’t yet clear whether the launch will only apply to New York, or will be nationwide, because Google is keeping its cards close to its chest.
The company has invited reporters to attend a ‘partner event’ to demonstrate what it called its ‘latest innovations.’
Sources say Google plans to unveil a mobile payments system that will run on the Android operating system and will be available on phones from Sprint Nextel Corp.
That is backed up by the fact that Citigroup, Google, Sprint and MasterCard all declined to comment when asked.
The mobile wallet idea was dreamed up around a decade ago and shoppers abroad, especially in Asia, can already wave cellphones at the check-out counter to pay for everything from food to fuel.
But it has not yet come to fruition in the U.S. market, hampered by industry infighting, consumer tastes and regulatory hurdles…”