Google Launches Phone Payments App

Google announced today that it has entered the mobile payments space, launching Google Wallet, an app which allows users to pay for items using their phone and near field communications (NFC). Google said it's field testing the service now, and plans to release it "soon" to users. Google said the new app will allow users to store credit cards, offers, loyalty cards, gift cards, and more. The launch is being supported by Citi, MasterCard, First Data and Sprint.