3. NFC and mobile payments Google Wallet, G
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Posted On: 02/22/2012 12:36:21 AM
3. NFC and mobile payments
Google Wallet, Google's mobile-payment system, may become more widespread in 2012.
Next year is likely to be the year when mobile payments blossom. While we've seen a great deal of innovation in mobile payments technology this year -- including the success of Square's iPhone dongle , allowing anyone to accept credit card payments -- 2012 is the year of NFC.
What's that, you ask? Near Field Communication essentially lets you replace your credit cards with your phone: Wave an NFC-enabled phone near the credit card reader in a store (or taxi cab), and the money is deducted from your account.
By 2013, 1 in 5 cellphones are expected to be NFC-equipped . Early contenders include Google Wallet, Visa Wallet, Serve (by American Express) and ISIS.
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