March 28, 2011
In the future, you better not lose your Android phone. Google is teaming up with MasterCard and Citigroup to turn your Android phone into a portable wallet, allowing you to pay for purchases simply by waving your phone around.
It would basically enable Citigroup credit and debit cardholders to pay for purchases easily using NFC technology. Instead of swiping a card, customers would just be able to wave their phone in front of a reader. Earlier this month, whispers were getting thrown around that Google may indeed be launching a mobile payment system. Well, I’ll be darned if that’s not a coincidence.
The payment system is being developed for upcoming Android models; however, Google’s Nexus S has already been shown to come with an NFC chip.