Technology-Headlines

by George Heymann

Google reportedly partnering with Citigroup, Inc. and Mastercard, Inc. to implement a mobile NFC payment system

by George Heymann

techeadlines@gmail.com

According to a recent WSJ report, Google, Inc. is partnering with Citigroup, Inc. and Mastercard, Inc. to implement a mobile payment system incorporating Near Field Communications (NFC) technology.

The NFC mobile payment system had been rumored since Google’s acquisition of Zetawire (a mobile payment company).

Google Nexus S first U.S. Smartphone to incorporate NFC technology

Google introduced NFC technology in smartphones this past December with the introduction of the Nexus S. The Nexus S was the first U.S. phone to incorporate NFC.

NFC is a very short-range (approximately 4-inch distance) high-frequency, wireless technology that combines features of a smart card and a card reader interface into a single device.

The NFC system is very similar to the embedded card technology that is used today to waive a credit card in front of a reader instead of using a traditional swipe method.

A competing mobile payment standard called Isis is being proposed by a consortium of Wireless carriers including Vodafone, Verizon, AT&T and T-Mobile. Isis will use Discover Financial Services, Inc. to process those payments according to the same WSJ report.

Source: Wall Street Journal

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