There have been a few times this year I’ve been at a restaurant with a group, and we’ve all wanted to pay with our credit cards. And none of us have cash. This problem is only going to get more common. So, what’s the solution, besides making the nice waitress bring out 5 separate checks for your group?
Bloomberg BusinessWeek reports that Google may launch a mobile payments service this year based on near-field communication, which lets you exchange data at close range through your mobile devices.
So, let’s say the bill for 5 people is $50. One guy can pay with his credit card, and you can just bump his phone via this Google technology, or perhaps PayPal technology, and immediately reimburse them. Or perhaps you can bump your phone directly to the restaurant itself?
So, will this bump out credit cards? Or will Mastercard create their own “bump” app to stay in the game?