Toronto – Google (NASD: GOOG) has acquired Zetawire, a Toronto-based
developer of near field communications (NFC) technology, TechCrunch reported,
citing analyst firm 451 Group.
Financial terms of the transaction were not
disclosed.
NFC technology can be used to enable mobile payments, storing a
user’s credit card or other payment information on a chip so that transactions
can be made by swiping the device near a scanner.
TechCrunch notes that
Zetawire had at least one U.S. patent application pending, on "a payment
system, an advertising system, and an identity management system" based on
NFC.
Related Links:
http://techcrunch.com/2010/12/13/google-zetawire
