Credit: Google/Samsung Nexus S
We reported last week that Google is rumored to be rolling out a smarthpone based real-world payment system using Near Field Communication technology. Well, the Wall Street Journal reports that the search giant has now brought MasterCard and Citigroup on-board.
The suggestion that these two financial giants will be working with Google strengthens the rumours from Bloomberg that Google will be testing NFC retail technology in San Francisco and New York stores this summer.
According to TNW Google will not take a cut of any purchases made using NFC enabled Android phones but will instead use the technology to generate geo-specific and customer-targeted advertisements – based on the users retail history. At the moment only the Android powered Samsung Nexus S contains NFC technology, although it is rumoured that the iPhone 5, due for release this year, will be similarly enabled.
NFC operates like an rfid tag and only requires the shoppers to scan the back of their cell phone against a chip-and-pin style creditcard machine to make payments.
The road to the Genesis Mission was paved by technocrats like Larry Ellison and Tony…
DPI means your digital identity will follow you everywhere — everything you do and say…
Imtiaz Mohammady, founder and CEO of global technology consulting firm Nisum, doesn’t fit the Silicon…
The birth of quantum mechanics was accidental, as most scientific discoveries go. Working from the…
The convergence of AI, specialized software, and clinical expertise is creating a new paradigm in…
The IRS just confirmed that Direct File — the agency’s short-lived attempt to offer a…