The Internet giant, Google, is all set to surprise everyone with its latest innovation known as the Near-Field Communications technology. Referred to as ‘tap and pay’ method of purchasing, NFC enables consumers to swap their phones against a small reader at a checkout stand. The technology will also provides some attractive NFC-based coupons and discounts to consumers, making shopping easier.
Google has teamed up with MasterCard and Citigroup to bring NFC to Android Phones. Aimed at speeding the transaction time and making it convenient for users to pay for things without swapping their credit cards, NFC will change the shopping experience for customers.
Google recently invited reporters to attend a "partner event" in New York to demonstrate its "latest innovations." One of the sources confirmed that Google would launch the program.
Google Ventures Managing Partner Bill Maris, said "there's room for more than one competitor. Such services would appeal to consumers if they can help them save money or shorten their time in line at the supermarket checkout.” Moving forward he also added, "the experience of buying things will be better, faster, cheaper."
According to the reports, Google will not be receiving any kind of transaction fees. The company is at present planning to launch the services in five main cities including New York, San Francisco, Los Angeles, Chicago and Washington, D.C.The company needs to put efforts in bringing as many credit card companies and banks on board to make NFC technology successful.
There is no announcement on the launch of NFC in India, but with the growing popularity of the android phones and the spur in the buying power, there is no doubt that NFC will make its way to India shortly.
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