Google, Mastercard and Citigroup team up for NFC payment system

When the Nexus S was announced, one thing that stood out, and still does (to a certain extant),was the NFC or Near Field Communications chip on the phone. NFC is basically a short range communication system, which can be used for mobile payments. Nokia came out with the 6131 ages ago, and tied up with Citigroup back then to display the use of NFC.

Well, now, according to the WSJ, Google has teamed up with Mastercard and Citigroup have teamed up to bring proper NFC payments to NFC capable Android devices. It seems Google is working on an app for a specific Android Device (I guess the Nexus S) for now, and will add other devices in the future, where you can link your Citigroup Credit/Debit cards and use that for payment when you check out (assuming that retailer has a NFC reader installed). What Google aims to get out of this is greater traffic for mobile ads, with more specific ads for the user, where they can use the details to drive specific ads/discounts/offers to that user.

Verifone will be delivering NFC specific readers to places, so that you can use this service.

We’re not really sure where this program will be trialled at first (but it wouldn’t be too far off the mark to say that this would be US specific for now), but it seems pretty handy!

Used NFC before? Planning on using it soon? Have any thoughts on the subject? Comment below and let us know. Or catch us on twitter, we’re @myportableworld.

Source: WSJ via Mashable

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Raghu Kannan

Drummer, Car enthusiast and wanna be rally driver, between jobs and loving it! @raghukannan

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