Google Licenses Visa payWave for Google Wallet

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Google Inc. has licensed Visa Inc.'s payWave contactless payment technology with the goal of enabling financial institutions to add their Visa credit, debit or prepaid accounts to Google Wallet, the companies announced Sept. 19.

Visa Europe is also included in the Google license, Visa said in a statement on its website.

"Visa's strategy is to make mobile payments available through a broad range of wallets — including our own digital wallet currently in development," Visa said.

Google Inc. on Sept. 19 officially launched Google Wallet, which in its initial phase can be used only with a Citibank MasterCard and a Nexus S 4G phone from Sprint.

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