Google to Launch Mobile Payment System
MOUNTAIN VIEW, California (
) --
(GOOG) - Get Free Report
reportedly is expected to unveil a mobile payment system on Thursday that allows consumers to buy items ay checkout with smartphones rather than cards.
Google will work with
MasterCard
(MA) - Get Free Report
to launch the system,
Reuters
reported.
The Wall Street Journal
previously said Google was working on a mobile payments platform with
Citigroup
(C) - Get Free Report
and MasterCard, as well as retailers and hardware makers such as
VeriFone Systems
(PAY)
.
The
Journal
said Tuesday that retailers
Macy's
(M) - Get Free Report
,
American Eagle Outfitters
(AEO) - Get Free Report
and the
Subway
fast-food chain will participate in the program, which will first launch in New York and San Francisco before being rolled out more broadly.
Google is planning to show off the technology, called near field communication, at an event Thursday in New York, the
Journal
reported. The technology is embedded in newer smartphones powered by Google's Android software and can help turn the devices into a kind of electronic wallet, people familiar with the matter told the newspaper.
-- Written by Joseph Woelfel
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Joseph Woelfel
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