Visa publicly stated today that it is in the process of developing a mobile payment service for the new G1 phone, which is powered by Google’s Android system. Visa has said G1 and other Android based phone users will be able to receive almost real-time alerts concerning their transactions via their mobile devices. In addition, customers will also have access to a location based mapping system, which would help them find ATM machines and nearby stores which accept Visa. The software will be available to consumers by the end of the year, starting with all Chase Visa cardholders.
This is an interesting step and new direction for a phone to go. If things keep going down the same road, people won’t need to carry wallets and purses which hold their financial information. They’ll just swipe their phone like they would any regular credit card and be done with it. We’re interested to see how the system will work, especially mobile payments in the checkout line at the store. The G1 will arrive in stores around October 22nd, so we’ll see if Visa releases the application to complement the phone’s release.
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