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Google is preparing to launch a mobile payments system in partnership with MasterCard and Citigoup, Inc., according to a report in today's The Wall St. Journal. The service is the long-rumored mobile venture utilizing NFC (near field communication) technology, which allows customers to wave or tap their phones at the point-of-sale to pay for purchases. Google isn't taking a cut of the transaction fees, says the report, but would use the system to provide retailers with more data about their customers so they could better target their ads.--
Source: http://feeds.nytimes.com/click.phdo?i=f89ab1e6f68d6678fc4f6953b0117930
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