Google Thinking About Making Its Own Mobile Payment System

Nexus S

Photo: Dan Frommer, Business Insider

Google is considering developing its own mobile payment system based on near field communication (NFC), Olga Kharif at BusinessWeek reports.NFC is a short range wireless technology that allows you transmit data.

In this case, you’d be able to wave an Android phone at a cash register and pay for a sweater, or whatever you’re buying.

The mobile payment field is getting crowded with major credit card companies working on a system, eBay working on something, and Apple hiring NFC experts for its phones.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at