Posts Tagged Mobile payment

Google Sets Role in Mobile Payment

Google Inc. is teaming up with MasterCard Inc. and Citigroup Inc. to embed technology in Android mobile devices that would allow consumers to make purchases by waving their smartphones in front of a small reader at the checkout counter, according to people familiar with the matter.

ReutersThe Nexus S Android, which Google developed with Samsung, could make mobile payments.



The Internet giant is aiming to make mobile payments easier in a bid to boost its advertising business. The planned payment system would allow Google to offer retailers more data about their customers and help them target ads and discount offers to mobile-device users near their stores, these people said. Google isn’t expected to get a cut of the transaction fees.

The project, which is in its early stages, would allow holders of Citigroup-issued debit and credit cards to pay for purchases by activating a mobile-payment application developed for one current model and many coming models of Android phones. The idea is to turn the phones into a kind of electronic wallet.

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Ericsson launches money services

  • Set to create a global ecosystem that makes sending money person-to-person as simple as sending an SMS
  • Addressing needs both in developed and emerging markets where consumers will benefit from getting basic banking and payment services into their phones
  • Mobile banking could benefit more than 1 billion people with access to mobile phones but no bank account

Aiming to take a driving role in ongoing industry developments to build a global mobile money ecosystem, Ericsson (NASDAQ:ERIC) launches Ericsson Money Services, a new business line that will offer mobile financial services.

Mobile payments and person-to-person money transfers are forecasted to become some of the most-used mobile applications in many countries in the next two or three years. Mobile money will become a foundation for person-to-machine and machine-to-machine connections by 2020, when Ericsson envisions a world with more than 50 billion connected devices. Ericsson has a significant role to play as these trends are realized.

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