Google to Trial NFC Mobile Payment System in New York and San Francisco

[dgstorm]

Mobile Wallets are getting a bit closer to reality now. A source from Bloomberg.com reported today that Google will roll-out test systems together with VeriFone Systems Inc. (PAY), in New York and San Francisco, for NFC smartphone payments of retail purchases. Supposedly, Google is buying up thousands of the VeriFone NFC payment systems to trial the mobile payments in retail stores around the two cities.

We've already reported last year about Google wanting to get into this market, and it seems they are getting started now. To reiterate the technology for those who missed out, NFC stands for Near Field Communications. It allows you to basically use your NFC enabled smartphone, like the Nexus S, to electronically pay for purchases in retail outlets by "swiping" your phone near the payment device.

The technology has been both praised and criticized. It obviously would be a very convenient advancement; however, several pundits point out the potential security risk for using such devices. Ultimately, only testing and time will allow us to determine if any potential security issues can be addressed, and if the risks out-weigh the benefits. Google's test run in New York and San Francisco is expected to commence within the next four months.

Source: Engadget via Bloomberg

 

[johnomaz]

I would use one. But I would want to see it have a button that you would have to press or something like that to activate the signal to talk to the POS machine. Or two metal contacts that need to be bridges with your finger.

I'd also like to see Google do some kind of prepaid service similar to PayPal. If I could put $X on my checkout account so I can use it only for Gas or Groceries, I'd be even happier.

 

[tcayton49]

I think this is potentially a great idea and I would most likley use it if it was available around me. I'm still not sure how it could be considered less secure than credit cards that have RFID chips that can be read from a far greater distance and without the ability to just turn them off which I'm certain you could do with this system.

 

[jayman350]

I would use one. But I would want to see it have a button that you would have to press or something like that to activate the signal to talk to the POS machine. Or two metal contacts that need to be bridges with your finger.

I'd also like to see Google do some kind of prepaid service similar to PayPal. If I could put $X on my checkout account so I can use it only for Gas or Groceries, I'd be even happier.

yeah they need to have some sort of security measure that requires you to do more than just waive your phone near the terminal to pay for something. I can imagine someone sitting near a cash register with a receiver plucking off bank account info every time someone pays.

I'm way too paranoid with my personal info (already had my identity stolen once) to link my bank account to my phone. If it were the kind of thing where you could add money to a dedicated "phone wallet" to pay for things with NFC I would consider it... but full access to my bank account? Not a chance.

 

[riko540]

I agree I think they should do a prepay sort of thing.

 

[XMasterMoronX]

From what I understand. The signal travels no farther than a few inches from the base/phone. Unlike your Wifi or Car Door unlock signals.

 

[chefmattb258]

i know the Nexus S has the nfc chip, but what about any upcoming phones? has there been any announcements about this?

 

[DaWolf85]

i know the Nexus S has the nfc chip, but what about any upcoming phones? has there been any announcements about this?

Only Gingerbread supports it, and there are just a couple phones that I know of that are supposed to be coming out with Gingerbread.