Wednesday, 25 May 2011

Google Expected to Introduce a Wireless Payment System

Google is expected to introduce on Thursday a mobile payment system that will let shoppers wave their phones to pay instead of pulling out a credit card, according to people briefed on the announcement.

Initially, the mobile wallets will be available only on Google’s Nexus S phone and will use a Citibank-issued MasterCard credit card number and a virtual Google MasterCard prepaid card. Consumers will be able to make payments at any of the 124,000 merchants that have MasterCard’s PayPass terminals, which accept contactless payments, a person briefed on the deal said.

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