It’s time for some great future tech. NFC, which stands for Near-Field Communication, is the core technology used with the just-announced Google Wallet, which will be a mobile app deployed first on Android phones with an NFC chip (like the Nexus S 4G), then will be expanded to others (and maybe even other platform). Google Wallet allows a user to store multiple credit cards, gift cards, debit cards and more on the account, enabling a tap to pay system, and will automatically redeem various offers. Also, Google plans to add things like passes, tickets, ID and even keys. Another addition to the app will be a Google Prepaid Card, which in turn can have funds put into it by any other card. The technology and app is currently in field-testing with a full release pegged for sometimes “soon”.
Via: Official Google Blog