- A new phone from Google will contain a near-field communication chip.
- The technology will allow a person to tap her phone to a device at the check-out register in order to pay for purchases.
- Google thinks the phone could replace credit cards.
me," Schmidt said on Monday while pulling a touch-screen smartphone from a jacket pocket during an on-stage chat at a Web 2.0 Summit in San Francisco. "You will be able to take these mobile devices that will be able to do commerce," he continued. "Essentially, bump for everything and eventually replace credit cards. In the industry it is referred to as tap-and-pay."