Google has given its payments system a boost with the acquisition of a startup that will let vendors take payments at the wave of a hand. The search giant has purchased a Zetawire, a little known Toronto-based startup that processes mobile credit card payments collected through a technology called near field communications (NFC), according to a report.
The 451 Group, a tech analysis firm, recently revealed that Google completed the acquisition of Zetawire back in August. It appears as though Google bought the company before it could launch its main NFC product. According to a patent filing, Zetawire’s technology supports mobile banking, advertising, credit cards, and mobile coupons. Read more
