"Google has teamed up with Mastercard and Citigroup to create a near-field communication mobile payment system on Android phones, the Wall Street Journal reports, citing several people familiar with the companies’ plans.
On the customer end, the technology would allow payments simply by waving an Android device in front of a NFC reader. To do that, owners of Citigroup-issued debit and credit cards would have to activate a special Android app (in development for one current and many upcoming Android devices, the WSJ claims).
This is where Google comes in: It would offer retailers data about their customers and help them deliver targeted ads and discounted offers to Android users near their stores. Instead of getting a cut of the transaction fees, Google would make money by selling these ads." Full Article -Via Mashable
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