‘Mega’ Payments Race Pits Google, Visa Against Phone Operators

‘Mega’ Payments Race Pits Google, Visa Against Phone Operators
February 24, 2011 Bloomberg.com
Google

The race is on to be the first to offer near-field communication payment systems – which will allow people to purchase items with a swipe of their smartphone. At this point, Google, Visa and telecommunications operators are all in it to win it. Why? NFC payments have the potential to replace many cash registers and credit cards and are expected to account for a third of the $1.13 trillion global market in mobile transactions in the next few years. In reality, however, a widespread move to universal mobile payment is far from certain, especially considering some similar payment systems have had only slow uptake…

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