After months of speculation, rumors, and teases, Bloomberg is reporting that Google will beat Apple to the punch and introduce a new mobile payment system on Thursday. The service will use near-field communication (NFC) technology, which uses special hardware inside of a mobile phone to make wireless transactions at stores equipped with NFC readers.
Google's new mobile payment option will reportedly be available exclusively to Sprint customers, at least at the start. The only smartphone on the U.S. market equipped with NFC technology is Google's Nexus S, which is available on both Sprint and T-Mobile. More phones with NFC capabilities are confirmed to be in the works, and there's even been talk of an upcoming iPhone model supporting the technology as well.
The service will reportedly launch in 5 cities at the start, including New York, San Francisco, Los Angeles, Washington D.C., and Chicago. No timetable was given on a further rollout, but that information may well be detailed when the service is officially announced on Thursday, so be sure to check back!
(Source)
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