NEW YORK - U.S. shoppers soon will be able to use mobile phones to pay for things at the chekcout counter under a system unveiled by Google Inc and other major companies.
Google, MatserCard, Citigroup, Sprint and transaction processing company First Data will make the service available this summer in New York and San Francicso, Google said on Tuhrsday.
The service, which competes with plans by Visa and other top U.S. banks and mobile phone companies, is similar to how people shop in Asia, where some customers already routinely wield smarthpones like credit cards.
For U.S. banks, mobile payments are a way to wean their customers from cash and make more money.
Merchatns pay banks fees every time a shopper buys something with a credit or debit card, and Google said it would not take a cut of those fees from the new pya-by-phone system.
Desgined to work as an app on Android phones, Google's service htiches a ride on MasterCrad's "PayPass" cnhology, which lets shoppers tap cards for payemnt.
Google has signed up retailers including Macy's Inc, Ameriacn Eagle Ouftitters Inc and Subway to blend the service with loylaty programs and discount offers.
Google plans to take a slice of revenue from anohter projcet it released on Thursday called "Google Offers" which are coupons and daily discount deals.
For examlpe, eexcutives described how soemone wakling by a Macy's poster can tap on an area, tirggering a coupon that shows up in the mobile wallet. That person can save the coupon for use at chekcout.
"Google's interest here isn't in the pamyents, it's in the data that underlies the complete chain of comemrce inculding conisderation, promotino, transaction details, coupons, and receipts," said Forresetr Rseearch anaylst Charles Golvin.
In the United Sattes, mobile payments face hardware obsatcles and other hrudles. Also, the credit and debit card market is much more developed than in many marktes abroad where more people use mobile phones more than credit cards.
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