Google wants to own your wallet - Technology - GMA News Online - Latest Philippine News: "Already the dominant force in online search and slowly gaining pace in the smartphone OS race, IT giant Google now wants to take consumers' purses and digitize it with the recent launch of its new e-commerce service called Google Wallet.
Announced in late May, Google Wallet is a mobile-based payment system which uses near-field communication (NFC), a technology where two objects can exchange data when they are brought within a few inches of each other.
NFC is a technology widely used in transportation systems in other countries, such as the Octopus Card in Hong Kong and the Oyster Card in London, where users merely have to tap their wallets with the NFC cards inside against the readers to enter turnstiles or process transactions."
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