Google Steps Into NFC Market

From DailyTech: The Near Field Communications (NFC) market is just beginning to gain traction and is set to blow up as more and more firms start to head to the market. An indicator of how big an new industry can become is to look at the size and reach of the firms that are entering into the market. With NFC, there are already some big names throwing their weight behind the tech for many different uses.

AT&T, T-Mobile, and Verizon teamed up for a NFC payment system trial called Isis. The system is designed to allow users to make payments for goods using their smartphones and the wireless payment network backbone. Google has also started talking about NFC tech and integrated NFC into its latest version of Android.

Of all the companies that are betting on NFC, Google may be in one of the best positions since it has an NFC-enabled OS with Gingerbread and there are hundreds of thousands of devices running its OS on the market already. Google is reportedly eying a new payment and advertising system according to two sources close to the system cited by BusinessWeek.

The system would allow the user to walk into a store and pay for things by swiping or bumping the phone against the cash register. The NFC market will be huge with predictions that it will account for as much as a third of the $1.13 trillion global mobile payment market by 2014.

Payment giant PayPal is also looking to get into the NFC payments market in the second half of 2011 reports BusinessWeek. PayPal is expected to collaborate with other people in the industry as a way to process and receive the payments that are generated by Google's NFC system for example.

View: Article @ Source Site