The WSJ is reporting that Google may have been already teaming up with Mastercard and Citigroup to demo and test NFC (Near Field Communication) systems for mobile payment and payment processing. The payment companies have been rumored to be demoing “one current model and many coming models of Android phones”, which may be using the NFC chip seen in the Nexus S for mobile debit and credit payments.
To add to the rumor, Google may have submitted a patent for a mobile payment processing system app for mobile devices to use in making and receiving payments as well. The app would essentially gather/collect payment information, including shipping rates and checkouts from any online shopping cart system, thus giving Google more user info on what people are shopping for and where they’re shopping for it, along with shipping data. Google having a system like this would act as a 3rd party broker app, much like how PayPal currently works, but will include much much more user data than Paypal collects through its merchant services. Just another way Google is gearing up for world domination?