FX.co ★ Google to work on smartphone payments in cooperation with MasterCard

Google Company is intended to develop Near Field Communication (NFC) smartphone payments in cooperation with MasterCard. This information was published by The Wall Street Journal with the references to the initial source provided.
As the project participants, smartphone on the basis of OC Android with NFC will be attached to bank cards with the help of a special application, so that one could then pay for his/her purchases.
In order to make it possible, MasterCard will develop and implement a new type of scanners with which cash accounts at shops will be equipped. It is worth mentioning that at first it will be possible to attach to smartphones only cards of the banks of Citigroup Corporation.
NFC came to be supported by OC Android mobile in December 2010. This is when a new Android 2.3 Gingerbread version was released. The first “googlephone” equipped with NFS module is Google Nexus S smartphone.
In January one of American analysts claimed that NFC will be supported by Apple mobile devices. In particular, mobile wallets are said to be available for the owners of iPhone and iPad devices. Meanwhile, Apple is expected to launch a service for electronic payments for goods and services that will enter in competition with Google system.