INTERNET BUSINESS NEWS-(C)1995-2011 M2 COMMUNICATIONS
20 September 2011 - Google (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :GOOG GOOG Google, Inc. (stock symbol) ) on Monday launched its Wallet service, which allows people to make one-tap payments using their mobile phones, the Financial Times reports.
The new service uses Samsung Nexus S 4G phones on Sprint's US network and its current partner for the payments is MasterCard.
Google's vice president of payments, Osama Bedier, said this was just version 1.0 of the service and the company expected to add new features over the next months, while also including more banks and handset providers as partners.
Bedier added Google expected to make the Wallet available in Europe in 2012.
Initially only one phone model will work with Google Wallet, but according to Google, 50% of smartphones in the USA will contain a near field communication (NFC NFC
abbr.
National Football Conference ) chip, to which the app links, by 2014.
