Google Will Launch Mobile Payment System

Google Inc. will launch a mobile payment system on Thursday, which will allow consumers to pay their bills with their smartphones instead of the traditional credit cards.

To fulfill this work Google will work with MasterCard Inc, the world’s second-largest credit and debit card processing network. The world’s largest Internet search engine has been working with MasterCard and Citigroup Inc. to develop the payment system.

The plans to reveal a mobile payment system run on the Google Android operating system will be available on phones of Sprint Nextel Corp. However both companies declined to comment about this project.

Source: Reuters