Google To Launch Mobile Payment System

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

Google Mobile Payment

The service would allow users to pay for retail purchases by holding their smartphone up to a specialized reader at checkout counters.

Google has been working with MasterCard, the world’s second-largest credit card processing network and Citigroup Inc to develop this mobile payments system. During the trial period, the service will be available only for Citigroup credit/debit card users.

Google is planning to show off the technology and has invited reporters to attend a “partner event” on Thursday in New York.