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Google Mobile Payment Technology Near

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The Wall Street Journal said that Google is teaming up with Citigroup and Mastercard to set up what they estimate to be a mobile payment system that turns Android phones into somewhat of an electronic wallet.

This should allow customers to wave or pass their Android phones before a small reader at the checkout counter and purchase items.

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The new payment system would allow Google to deliver retailers more information about their consumers and aid them in targeting advertisements and discount offers to the mobile device.

Google won’t be getting a piece of the action however as the WSJ says there’ll be no monetary remuneration for the search engine giant.

How this all will be achieved is just speculative right now but it’s a good bet that they’ll have to come up with a technology and procedure that will not only work but make customers comfortable about using it.

If successful, it could usher in a new way of doing business on the web.

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