Google To Announce Virtual Wallet Platform Thursday

Google is expected to announce a mobile payment platform that will let consumers wave their Android-based phones at the checkout counter to make payments, redeem coupons and earn loyalty points, according to two reports.

The new technology will interact with near-field communication-equipped cash registers, in effect turning the devices into virtual wallets, Bloomberg reports. Participating retailers include Macy’s, American Eagle Outfitters and Subway, according to another report in The Wall Street Journal., which cites “people familiar with the matter.” It’s unclear whether the roll-out will be national or just in New York. Google reps could not be reached for comment.

Google has been talking about adding NFC-enabled payments since at least November 2010, when then-CEO Eric Schmidt disclosed that Samsung’s Nexus S mobile device contained an NFC chip. That device became available last December.

In March, Bloomberg reported that thousands of stores in New York, San Francisco, Los Angeles, Chicago and Washington, D.C., would soon begin testing Google’s NFC payment system. If Google begins enabling mobile payments this week, it will give Android a jump over Apple, which has reportedly decided not to include NFC in its iPhone 5 release.

Meanwhile, at least one major retailer, Starbucks, isn’t waiting for Apple or Google to institute a mobile payment system. Starbucks began offering that option in January via a downloadable Starbucks Card app.