With Google's announcement of its agreement to acquire Motorola Mobility Holdings, the search giant has potentially turbocharged its mobile payment plans.
Where before, the Google Wallet was only set up to work with the Sprint Nexus S phone (most other telecom providers have joined the ISIS mobile payment consortium), now Google will be able to design, manufacture and distribute its own phones, presumably with Google Wallet software and mobile payment technology preloaded [we were unable to reach Google representatives this morning for comment]. Google has already gotten Citi, MasterCard, Sprint, First Data and sixteen merchants to partner on its Google Wallet mobile payment scheme, which is still in test mode but will support contactless payments from near-field communication-equipped phones.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access