Being the proprietor of the Android mobile operating system, search engine behemoth Google is allegedly anticipated to reveal at its New York offices a new “digital wallet” feature that permits consumers to pay for items utilizing their smartphone.
The aspect is anticipated to let Android users to pay for items with their mobile phones instead of credit cards, powered by near-field communications technology, which permits gadgets to send out data from around four inches separately. According to a Bloomberg report, the service will be accessible on Sprint.
Analysts said near-field technology and the same advances perhaps the next frontier of commerce. The following edition of the iPhone is reported to consist of several kinds of mobile payment technology and companies like Boston-based AisleBuyer LLC are mixing up to acquire first crack at negotiations with retailers.
Mobile payments are the “ultimate chicken-and-egg market,” meaning there are a lots of elements needed similar to the installation of mobile terminals that no one desires to be the first to create the investment, technology analyst, Carl Howe with the Hub-based Yankee Group said.
Howe said, “Nobody’s going to do the phones unless the terminals are there. The question is, who will break the logjam first.”
Mobile payments will perhaps never completely substitute cash and credit cards, Howe said.
He added, “I don’t think those are going away anytime soon.”
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