Google is a smart company
Mobile payments is an idea that has been around for quite some time, however the idea of targeted ads running on your cell phone is a great idea. Google, in conjunction with the GPS of a smart phone, will be able to know what store you are in at that moment and send you a special promotion offer. Getting into local search is the future and this offers a unique way for Google to get a piece of an actual brick and mortar business. This is a type of advertising that has never been done.
Good stuff - but let's be honest...privacy issues anyone? Lots of good ideas are rolling out these days (e.g. Color http://hubpages.com/hub/ColorSocialNetwork) - but what about privacy concerns? Is anyone else worried about the big brother type implications of sharing your whereabouts at all times?
Amplify’d from www.wallstreetjournal.com
Google Sets Role in Mobile Payment
Google Inc. is teaming up with MasterCard Inc. and Citigroup Inc. to embed technology in Android mobile devices that would allow consumers to make purchases by waving their smartphones in front of a small reader at the checkout counter, according to people familiar with the matter.
The Internet giant is aiming to make mobile payments easier in a bid to boost its advertising business. The planned payment system would allow Google to offer retailers more data about their customers and help them target ads and discount offers to mobile-device users near their stores, these people said. Google isn't expected to get a cut of the transaction fees.
These phone users also would be able to get targeted ads or discount offers, which Google hopes to sell to local merchants. They also could manage credit-card accounts and track spending through an application on their smartphone, the people said.
Google's move is part of its quest to sell ads and other services to local retailers, a growth frontier for Internet companies. Google executives, including outgoing Chief Executive Eric Schmidt, haven't been shy about saying that Android devices could serve as payment facilitators, thanks to NFC technology, though they haven't specified what Google's role will be.
If Google's program with MasterCard and Citigroup is successful, it could potentially expand to other card issuers and networks. In addition to attracting new consumers through ads or offers and seeing instant results, the program would offer retailers access to data about customers so they would be able to market future offers to their devices, said people familiar with the matter.
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