Rumor Mill: Google, Sprint to unveil mobile payment system Thursday

Google (NASDAQ:GOOG) will launch a mobile payments service Thursday for Android-enabled phones using the Sprint Nextel (NYSE:S) network, three unnamed sources told Bloomberg.

In addition, the sources revealed that the new service will allow users to purchase items and use coupons using their Sprint phones, including the Nexus S which offers NFC support.

Google's mobile payments service initially will be available in five cities: New York, San Francisco, Los Angeles, Chicago and Washington, D.C. Isis, the combined effort of competitors AT&T Mobility (NYSE:T), Verizon Wireless (NYSE:VZ) and T-Mobile USA, in contrast, is only set to roll-out its NFC payment system in 2012 in Salt Lake City.

The news of Sprint working to adopt NFC technology is not new. Last month, Sprint revealed it was working with various handset makers on the technology. Phones running Gingerbread for Android, additionally, are NFC capable. In March, rumors arose that Google would be working with MasterCard and Citigroup on a mobile payment processing system.

Google could formally announce its new mobile payment system during a press event it scheduled for Thursday. Both Google and Sprint have currently refused to comment on the issue.

For more:
- read this Bloomberg article

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