Google to offer mobile payments – exciting? or not?

Google is joining Citigroup and Mastercard to set up a mobile payment system that will turn Android phones into a kind of electronic wallet, the Wall Street Journal said, citing people familiar with the matter.

The new technology, which is in its early stages, will allow consumers to wave their Android phones in front of a small reader at the checkout counter to make payments, the Journal reported.

Sounds exciting! Oh, there is more…

The planned payment system would allow Google to offer retailers more data about their customers and help them target advertisements and discount offers to mobile device users near their stores, the sources told the WSJ.

Maybe some people would find that ‘not exciting.’

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