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It is being reported that Google will soon launch its mobile payment platform in an attempt to turn smartphones into credit cards. It is rumored that Google is actually ready to show off a mobile payment platform that works with near field communication technology.

Wall Street Journal reported that Google is expected to give details about its new platform which will allow people to make purchases by waving their NFC-enabled smartphones in front of a special reader. WSJ reported that it had insider information that the program will launch first in New York followed by in San Francisco. Google already has a line of retailers willing to participate which include Macy’s, American Eagle Outfitters, and Subway restaurants.

Google is also reported to say that its new technology is more than just a credit card but will allow users to manage their credit cards and get discounts and points for using it with participating retailers. Google is also reported to partner with Spring to bring NFC-embedded smartphones to customers this year.

One major question remains – security? Crooks can carry mobile NFC reader devices to pick up info from the phones. Now Google might sure have a way to counter that.

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