Google is going to start a new mobile-payment system on-test basis within four months in New York and San Francisco. It will pay to install “special cash-register systems” from VeriFone Systems Inc. at different business locations. ViVOtech Inc., a company that specializes in mobile-payment technology, will also play a major role in the test.
Bloomberg has been tipped off by an inside man. Google service would combine users’ financial account information, gift-card balances, store loyalty cards and coupon subscriptions on a single chip inside a phone.
The NFC system allows shoppers to buy products using their mobile phones. They would pay for the product or services by tapping on a device against a register at checkout. To support this system, users would have to carry phones supporting NFC technology.
Google Nexus S smartphone running on Android 2.3 Gingerbread comes with NFC support. Earlier, news reports came out that Apple would include NFC technology in its upcoming iPhone 5 but later the UK mobile network officials revealed that Apple is not going to include any NFC chipset in their next iPhone for there is no clear industry standard for NFC but it understands the potential of the technology and is said to be working on including this technology next year and it will link payments through iTunes.