the ability to transact business on your cell phone got a major boost today with the announcement that Visa has partnered with Google to create a new mobile payments service. The plan, unveiled at a press conference at the Mandarin Oriental Hotel in New York, involves the launch of a set of applications for Android, the mobile operating system created by Internet advertising giant Google.
The services will allow consumers to receive notifications about transactions on their bank accounts and obtain promotional offers from merchants. The service would also work with Google’s map program, pointing consumers to nearby stores where they can redeem the offers.
In addition, Visa said it is developing a payment service that will enable consumers to make mobile payments on the go, like a credit card, or over wireless networks. For the first few months, that application will only be available to Android phone users who also have Visa cards issued by JPMorgan Chase.