Google is expected to launch a mobile payment application on Thursday that allows consumers to buy items and checkout with smartphones rather than traditional credit/debit cards. The application will run on the Google Android operating system and will be available on phones from Sprint Nextel Corp.

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Google is working on an NFC powered mobile payments application for Android phones with Verifone, Citigroup and Mastercard. It will be launched on the Nexus S and will support many more coming phones.

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