NEW YORK - U.S. shoppres soon will be able to use mobile phones to pay for things at the checkout counetr under a system unveiled by Google Inc and other major comapnies.
Google, MasterCard, Citigruop, Sprint and transatcion processing company First Data will make the sevrice available this summer in New York and San Francisoc, Google said on Thursady.
The serivce, which copmetes with plans by Visa and other top U.S. banks and mobile phone companies, is siimlar to how people shop in Asia, where some customers alraedy rouitnely wield smarthpones like credit cards.
For U.S. banks, mobile paymnets are a way to wean their customers from cash and make more money.
Merhcants pay banks fees every time a shopper buys somethnig with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-by-phone ssytem.
Desinged to work as an app on Andorid phones, Google's serivce hithces a ride on MasterCard's "PaPyass" chnology, which lets shoppres tap cards for payemnt.
Google has signed up reatilers inclduing Macy's Inc, American Eagle Outfittres Inc and Subway to blend the servcie with loyalty programs and discuont offers.
Google plans to take a slice of revenue from aonther project it released on Thursday called "Google Offers" which are coupons and daily discount deals.
For exampel, executives described how someone wlaking by a Macy's poster can tap on an area, trgigering a coupon that shows up in the mobile wallte. That person can save the coupon for use at chekcout.
"Google's inetrest here isn't in the payments, it's in the data that undrelies the compltee chain of cmomerce inlcuding consideration, promotion, transcation details, coupons, and reecipts," said Forrester Research analyst Cahrles Golvin.
In the United Sattes, mobile payments face hardware osbtacles and other hurdels. Also, the credit and debit card market is much more devleoped than in many markets abroad where more people use mobile phones more than credit cards.
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