LEAK: GOOGLE TO UNVEIL MOBILE PAYMENT SERVICE ON MAY 26TH

Sources speaking with Bloomberg claim Google is finally ready to take the wraps off its mobile payment service. According to a new report, Google will host an event on Thursday, May 26th to introduce its new service, which will initially be available only to Sprint subscribers in New York, San Francisco, Los Angeles, Chicago and Washington, D.C. who own the company’s Nexus S 4G smartphone. The system will be NFC-based, and Bloomberg did not specify which retail partners would support Google’s initial offering.

Google has made a series of moves leading up to the imminent announcement this week, such as its recent acquisition of stealth Toronto-based start up Zetawire, which had filed a patent for “a payment system, an advertising system, and an identity management system” combined into a single product. While Google’s preliminary offering might not include unique technology such as Zetawire’s, it’s safe to say the Internet giant has a lot in store for us as it enters this emerging space.

GOOGLE ACQUIRES MOBILE PAYMENT DEVELOPER ZETAWIRE

Ever since Google CEO Eric Schmidt first touted Android 2.3′s NFC capabilities at a recent conference, Google has made it clear that it plans to make a big play in the mobile payment space. Google’s play will star NFC, of course, and it certainly isn’t the only major player in the cell phone space looking to capitalize on the coming mobile payment boom — Nokia has already released NFC-equipped cell phones, RIM is known to be eying NFC and Apple is rumored to be testing the technology for future iPhone models. Today, The 451 Group revealed that Google recently acquired stealth mobile payment startup Zetawire. The Toronto-based company has less than five employees and no website, but it does have a patent application filed for “a payment system, an advertising system, and an identity management system” combined into a single offering. It’s hard to say exactly what Google has in mind with this acquisition, but it is probably safe to assume the company’s plans involve Android, NFC, ads and making money. [BGR]