It looks like we're about to get a closer look at Google's mobile payment platform. On Thursday, "Google is expected to disclose details about how consumers will be able to make store purchases, redeem coupons, and get loyalty points by waving smartphones in front of a small reader at the checkout counter," reports The Wall Street Journal, citing unnamed sources.
"A mobile payments or wallets service would be a different beast that would compete more directly with internal initiatives by eBay's PayPal, Amazon, or traditional credit card companies, such as Visa, MasterCard and American Express," according to All Things D.
"Google, not surprisingly, will also open up the payment platform so that developers will be able to implement NFC technology in their apps," VentureBeat reports. "Instead of relying on your monthly credit card statement, you'll be able to track your purchases in real-time -- one of the biggest benefits of using NFC-enabled phones over credit cards."
That said, "Mobile payments are a very tricky thing," paidContent points out. "Not only do you need the right hardware and software on both the phones and at the point of payment to get things rolling, but you also need sophisticated back-end systems to process everything and the ability to convince the public that such a method is secure and reliable."
"Google's mobile-payment service would also face competition from alternatives such as ISIS, a joint effort of AT&T, Verizon Wireless and T-Mobile USA," Bloomberg reports. "ISIS plans to roll out its service in two cities, including Salt Lake City, in early 2012."
"The real question, of course, is security," writes Computerworld. "If a special little reader can take and use your credit card data from your phone, how is Google going to ensure this only happens when you want it to happen?"