Rumor: Google Working on Mobile Payments System

Many of us are still toting around a “Geroge Costanza” wallet.  We have credit cards, store loyalty cards, gift cards from the holidays, cash, and many other things.  Well, now there may be a good chance that this sort of scenario will be going by the wayside in the not too distant future.

Businessweek put together an article about opening up the NFC market to allow shoppers to just “swipe their phone” at a register to pay for goods.  While at a restaurant, you’d be able send half the bill to your dining companion’s phone. Your store loyalty card info may also be stored on your device.

In regards to Gingerbread, Businessweek said,

“Google may be in a good position to disrupt the payments industry because merchants and consumers already use its technology widely. Some 300,000 people activate phones daily that use its Android software. On Dec. 6, Google released its newest version of Android, called Gingerbread, which has some NFC features, such as reading information from NFC tags. More functionality ‘will come out pretty quickly,’ says Google’s Rubin. On the market since Dec. 16, the NFC-enabled Nexus S phone, developed with Samsung Electronics, will serve as a test for a Google payment and ad service, says one of the people knowledgeable about Google.”

If you’d like more details, you can check out the full article here.  Although this is all just rumor at this point, is this something you’d like to see happen in the near future?

  • Mac

    Considering the obscene fees Google charges for Google Checkout, or the fact that they suck down 70% of the purchase price of an Android Market app, I can’t say I’m too excited about this.

  • Moc

    70%? It’s 30%, the remaining 70% goes to the developer.

  • Nothing particularly new, its coming and many people will do it, don’t invest too much in the wallet industry over the coming years 🙂

  • counsel

    Considering Google has NO payment option for the Market except credit cards, i won’t hold my breath… Google, there are a few easy fixes… Reach out and hire me…

  • I’m ok with it so long as it’s not one of those gimmicks where it just shows up on your phone bill. There is no reason to further fatten the wallets of the mobile carriers (unless, of course, you’re a mobile carrier!)