Schmidt: Google Wallet Will Be Compatible With iPhone and Other Mobile Platforms

Late in December last year, Google had launched the Nexus S, the first mobile phone to be equipped with NFC (Near-field Communication) technology. And, this year in May at the NYC Event, Google Wallet was announced, which is essentially a way to pay for things by just tapping your mobile to a terminal in shops. […]

Late in December last year, Google had launched the Nexus S, the first mobile phone to be equipped with NFC (Near-field Communication) technology. And, this year in May at the NYC Event, Google Wallet was announced, which is essentially a way to pay for things by just tapping your mobile to a terminal in shops. Handy, but yet to roll out.

However, till date, Google had never mentioned if it intended to bring the product to other platforms, nor did it mention when it was to launch. But while speaking at the Cannes Lions advertising festival on Wednesday, Google CEO Eric Schmidt said that Google will make its wallet available for the iPhone if NFC is included in a future version of the device, he said.

He added that "most [mobile-phone] vendors" have announced they'll include the necessary "near-field communication" chip in their devices in the next year, referring to LG, Sony Ericsson and Apple's rumoured new iPhone.

Schmidt said that Google was working to encourage payment processors to upgrade a third of their terminals, to allow wireless "tap and pay" from mobile phones within the next year, which'll be sufficient for wide adoption of the technology.

As Google and other companies focus their attention on handheld devices, Mr Schmidt said that "all the really clever stuff" would happen in mobile technology, particularly in emerging markets where fixed-line broadband was scarce.

Schmidt went on to say that "as many as a third of checkouts at restaurants and stores would have NFC support within the next 12 months" and that the readers and software would be ready by the summer of 2012.

Google is also looking to harness social networking information and personalisation technology to help users manage the huge quantity of information which is posted online everyday.

"If we've the equivalent of a social graph, we can help select videos that you'd want to watch," Mr Schmidt said. "We can suggest literally infinite television."

[Via: FT.com]