A recent development in the tech sphere suggests that the search giant Google is joining hands with MasterCard and Citigroup to empower Android devices so that users can make purchases using their smartphones. It will make you just wave your Android-powered smartphone at the counter to pay for your purchases. Interesting, right?
The idea, once implemented, will turn your smartphone into an electronic wallet. The Near Field Communication (NFC) technology will be used in the implementation of this payment method. Major card reader manufactures are already supporting this technology. Google’s Android smartphones already features Near Field Communication technology.
However, the search giant’s intention is not only to make things easier for the people. The move is seen as an attempt from Google to boost their advertising business too. Probably, the purchasing system will allow Google to share more data regarding the users with the retailers.
Retailers can use this information to target customers with discount offers and specific advertisements. However, it is not yet clear if Google will get a share of the transaction fee.
When developed into a full fledged system, the model will allow users to activate a mobile-payment application in their Android phone, by way of which they will make the purchases. Probably, the service will be available only to those who hold Citigroup debit or credit cards.
Though there are wide-spread apprehensions about the security of such payment methods and the financial risks related to it, experts brush such worries aside. According to them NFC is a sophisticated technology and it is difficult to steal financial data this way.
ReplyDeleteNational Mobile Number Portability is now available on Videocon. Now no matter which city you move to, there's one thing that needn't change - your number!
Mobile Number Portability