Android phones to be wallets
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Google is joining Citigroup and Mastercard to set up a mobile payment system that will turn Android phones into a kind of electronic wallet, according to Monday's Wall Street Journal.
The new technology will allow consumers to wave their Android phones in front of a small reader at the checkout to make payments, the Journal reported.
The payment system would allow Google to offer retailers more data about their customers and help them target advertisements and discount offers to mobile device users near their stores, sources told the newspaper.
Google is not expected to get a cut of the transaction fees, the paper said.
Initially, holders of Citigroup debit and credit cards would be allowed to pay for purchases by activating a mobile payment application developed for one current model and many coming models of Android phones.
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