Home Forums Ganymede & Titan Forum Google to soon have mobile payment system for mobile phones

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    Anonymous
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    Google to soon have mobile payment system for mobile phones

    The next generation of cell phone technology is mobile payment systems, which basically eliminate the need for a wallet. Google is launching its own very soon. Google has produced its own version of near-field communication technology. Near-field is a readable computer chip, which could be linked to bank or credit card accounts to process payments wherever a near-field card reader is accessible. Google is the latest business to join in trying to phase out the ancient technology of the wallet.

    Sprint’s payment program on the smart phone Nexus S

    The latest trend in mobile phone technology is mobile payment processing. T-Mobile, Verizon and AT&T are working together to develop and install ISIS in the next few years on smartphones. This can be a near-field communications technology. Near-field communication is also known as NFC. There is a chip in a phone with the technology which has the user’s credit card or bank account information in it. A customer is able to tap their phone during the transaction to initiate the purchase as long as a merchant has an NFC reader. Bloomberg states that the Nexus S Android mobile phone will have the NFC system on it from Sprint. This NFC program was created in part with Google.

    Google offers it to anybody who’s willing to purchase it

    The Google mobile payment system will first be accessible on the Nexus S, an Android cell phone. With more and more phones coming out on the Google-based Android platform, the Google payment system will become more readily available. Google plans to debut its NFC technology in New York, Los Angeles, Chicago, San Francisco and Washington D.C. to start with. The technology needed for Google NFC systems comes from two places. This involves ViVOtech and VeriFone Systems. Mobile-phone based commerce was estimated at $370 million worldwide last year. Apple is currently working on its own NFC system. ISIS, according to Forbes, hopes to partner with Google, Apple and all banks and credit card businesses in the United States, including other NFC system producing firms, in order to ensure uniformity of technology nationwide. NFC technology is rarely used in the U.S. for purchase purposes, but the technology is a decade old.

    Other mobile payment systems in the near future

    More than one “mobile wallet” type is around. A smart phone is just like a charge card machine with Square. The charge card reader is put into the headphone jack while the Square app has to be downloaded. Getting a payment is as simple as swiping the card then. Square debuted in 2009 and at first only received and didn’t spend payments. When going to a clerk in a participating store, a person can now purchase goods with Square. This is the new version, states CNN. The store clerk finds the Square customer’s information. This is how the charge card is billed. No chip is needed. It can do it without the chip.

    Citations

    Bloomberg

    bloomberg.com/news/2011-05-24/google-to-unveil-mobile-payment-service.html

    Forbes

    blogs.forbes.com/elizabethwoyke/2011/05/17/mobile-payments-jv-isis-eager-for-apple-google-sprint-to-join/

    CNN

    cnn.com/2011/TECH/mobile/05/23/square/

    #112389
    Pete Part Three
    Participant

    Thanks Brian.

    #112390
    Kris Carter
    Participant

    I think Brian will be a welcome addition to the G&T crowd.

    #112404
    Jo
    Participant

    Aww, look at his happy little face :)

    #112408

    I’m sure he’ll be a valuable asset to the team.

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