Google Inc. plans to start testing a mobile-payment service at stores in New York and San Francisco within four months, letting shoppers use their phones to ring up purchases, two people familiar with the project said.
The company will pay for installation of thousands of special cash-register systems from VeriFone Systems Inc. (PAY) at merchant locations, said one of the people, who requested anonymity because Google’s plans haven’t been made public. The registers would accept payments from mobile phones equipped with so-called near-field-communication technology.
So, who said Google were not a competitor in the payments sector? As I’ve been saying for a while, Facebook, Google and PayPal are all players that could, and probably will, disrupt and transform the payments market. Their ability to work in the prepaid sector is of real interest.