Internet search giant, Google, is all set on plans to start testing a mobile payment service at various stores in New York and San Francisco, within a couple of months. With this feature, shoppers would be able to use their phones to mark purchases, a close source revealed.
VeriFone Systems Inc. (PAY) would provide solutions, in form of special cash-register systems, which would be installed at merchant locations. On being marked anonymous, the person further told that ViVOtech Inc., a solution provide for mobile-payment technology, would also play a role in the tests.
With the release of the project, Google would be ranked amongst companies experimenting the Near-Field Communication (NFC) technology, facilitating consumers to pay for products and services by tapping a device against a register at checkout.
An alternative to cash or various credit/debit cards, the upcoming Google service would combine a consumer’s financial account information, gift-card balances, store loyalty cards and coupon subscriptions on a NFC chip on a phone.
Even though Google would be new to the mobile-payment service, the company would face tough competition from PayPal and ISIS.