Eric Schmidt from Google has announced a new Android phone which will completed with mobile payment systems. Eric Schmidt, Google's Chief Executive, shows a phone with Android OS, which is equipped with a chip that will allow users to make payments through their handsets.
When opening the annual meeting of the 'Web 2.0 Summit' in San Francisco, Schmidt showed the phone, and is equipped with a chip from the Near Field Communication, which will allow the people make payments via their mobile phones, as well as credit cards.
The latest version of Android, which is referred to as the 'Gingerbread' will be launched in coming weeks, will feature the latest payment systems as a key tool. "This could replace your credit card," said Schmidt.
The users will need an NFC chip and Gingerbread Android OS to enable this technology. The NFC technology allows users to tap their phone on a symbol or an item to make it successful, such as making a payment.
Schmidt stressed that Google has not had any cooperation with any party for the release of this product, but Google will work with third party payment processor developers . In addition, he also said that Google will not take personal data through a credit card transaction via the phone.
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