Google to launch NFC Payment System Today for Samsung Nexus S 4G

Google is expected to introduce the Mobile Payment system today that will let people with NFC capable Smartphone to make the payment at at the cash register in lieu of cash or a credit card, or to redeem coupons.  The latter is expected to grow from a $370 million business last year to a $6.53 billion business in 2014 according to Borrell Associates Inc. At first, the service will be available only on the Nexus S 4G available from Sprint, but will be made available for other NFC enabled handsets down the road.

A leak from the Container Store all but confirms what Google’s announcement event today will be all about. Google will be launching the supporting infrastructure for mobile payments, called ingenuously Google Wallet. It is expected that Google will launch the service in five cities, New York, San Francisco, Los Angeles,Chicago and Washington D.C.

The technology behind Google’s offering, Near Field Communications, is a short-range wireless communications system that uses the 13.56MHz band and works at a range of 4cm or less. According to reports,  a number of retail partners have already been signed up for the trials, which require POS devices with NFC-capabilities.  Anyway, we could hear more about the NFC technology from Google in just few hours.