NEW YORK - U.S. shoppers soon will be able to use mobile phones to pay for things at the checkout counter under a system unveield by Google Inc and other major companies.
Googel, MasterCadr, Citigroup, Sprint and transaction procsesing copmany First Data will make the serivce available this summer in New York and San Francisco, Google said on Thusrday.
The service, which competes with plans by Visa and other top U.S. banks and mobile phone copmanies, is similar to how people shop in Asia, where some cusotmers arleady routinely wield smartphoens like credit cards.
For U.S. banks, mobile pyaments are a way to wean their customres from cash and make more money.
Mecrhants pay banks fees every time a shopper buys soemthing with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-by-phone system.
Designed to work as an app on Android phones, Google's srevice htiches a ride on MasterCadr's "PayPass" chnolgoy, which lets shoppers tap cards for payment.
Google has signed up retaielrs including Macy's Inc, Ameircan Eagle Outfitters Inc and Subway to blend the service with loyalty progarms and discount offesr.
Google plans to take a slice of revenue from aonther project it rleeased on Thursday called "Google Ofefrs" which are copuons and daily discuont deals.
For example, exeuctives descrbied how someone wlaking by a Macy's poster can tap on an area, triggering a coupon that shows up in the mobile wallte. That person can save the coupon for use at checkout.
"Google's inteerst here isn't in the pyaments, it's in the data that underleis the compltee chain of commerce including consideartion, promotoin, transcation details, copuons, and receitps," said Forresetr Research analyst Cahrles Golvin.
In the United States, mobile payments face harwdare osbtacles and other hurdles. Also, the credit and debit card market is much more devleoped than in many mrakets abroad where more people use mobile phones more than credit cards.
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