The latest news on the block – Google, Visa and MasterCard are gearing up in desire of launching a near-field communication (NFC)-based mobile payment system for Android phones later this year. Currently the NFC-based mobile payments system will work on one existing Android device – Samsung Nexus S, followed by several other Android handsets in later months.
VeriFone will also play a vital role – providing the mobile payment terminals at retail locations across the country. Google will not take it’s share from the transaction, rather it will gather and analyze end-user data in order to sell more effective advertising to local merchants.
The Nexus S has an NFC chip inside, runs Gingerbread aka Android 2.3. Though the launch of the NFC-based payment program is still under shrouds.
