Google Wants To Make Mobile Banking Common

Google has introduced new technology that will allow consumers to pay for a lot more things by waving their Android smartphones at cash registers. Google Wallet will, at first, work only on certain phones, and at certain retailers. But the plan is to roll it out more broadly.

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RENEE MONTAGNE, host:

NPR's business news starts with mobile consumers.

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MONTAGNE: Shopping without plastic or cash is already a reality. Starbucks customers can already pay for lattes by waving their iPhones at the cash register. Now Google has a technology that will allow consumers to pay for a lot more things by waving their Android smartphones at cash registers. Google Wallet will, at first, work only on certain phones, and at certain retailers. But the plan is to roll it out more broadly and make mobile banking more common.

Technology companies, banks and credit card processors are all looking for a piece of the action in what they see as a major shift in the way consumers will make purchases.

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Source: http://www.npr.org/2011/05/27/136706588/-business-news?ft=1&f=1006

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