Google teams up MasterCard, CitiGroup for NFC mobile payment

Written by: Abdul Nisar
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Nexus S smartphone
San Francisco, Mar 28: Technology giant Google has teamed up with MasterCard Inc and Citigroup Inc for the development of Near Field Communication (NFC) system on smartphones. Media reported that the NFC technology will allow customers to use their smartphone for mobile payment.

Google launched their brand new smartphone Nexus S with NFC technology and plans to extend this to other Android smartphones. Using the NFC embedded smartphones, users can make purchases by waving their smartphones in front of a small reader at the checkout counter.

Android maker Google also made alliance with credit-card reader maker, VeriFone Systems for making contact-less readers to access Citigroup issued debit and credit cards. It is expected that Google will introduce mobile-payment app for different Android mobiles.

Various mobile-transactions analysts opinionated that the NFC is more secure than the current credit cards with a magnetic stripe. The NFC code will be more secure that makes it difficult for the hackers to crack the code. The service is expected to be released by mid 2011.

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