Is Google working with Mastercard and Citigroup for mobile payment solution?

• 29/03/2011


Word around the campfire is that Google is currently working with Mastercard and Citigroup in getting NFC into more stores. Exactly how we’re not sure, but essentially, Google would own the data from a transaction made using NFC, so it can resell it to the highest third party company bidder. Privacy concerns obviously spark here, especially from mobile carriers, because they want to own your transaction data…most likely so they can understand where you buy things so they can sell it to the highest third party bidder.

All in all, if you use Mastercard or Citigroup, you’d tie your card to your NFC enabled mobile device, and swipe your mobile phone over the NFC swiper doo-dad at whatever store you buy something at, then Google gets to store that transaction data, thus knowing how often you visit Starbucks and what your favorite restaurants are. That info can be pretty powerful when Google takes over the world and wants to find you…

[Via – intomobile | Engadget]

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Tags: Android, Citigroup, contactless payments, ContactlessPayments, credit card payments, Google, google checkout, google payments, mastercard, mobile payment system, mobile payments, MobilePayments, MobilePaymentSystem, near field communications, NearFieldCommunications, NFC, patent, patent app, patent application, PatentApp, PatentApplication, patents, payment, payments, point of sale, PointOfSale, pos, privacy, privacy issues, PrivacyIssues

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