• News
  • 22 November, 2010
Share

Schmidt at Web 2.0 Summit: “Android Phones Could Replace Credit Cards” [Video]

During last week’s Web 2.0 Summit, Google’s chief executive, Eric E. Schmidt, demonstrated a tap-to-action technology which will be featured in Gingerbread, the newest version of Android.

The technology works by simply tapping your device on a real world symbol to trigger an action. A good example of how this technology could be utilized was highlighted in mobile payments. According to Schmidt, this technology could replace our credit cards! Wouldn’t that be nice and convenient?

“The reason this N.F.C. chip is so interesting is because the credit card industry thinks the loss rate is going to be much better, they’re just more secure.”

“Imagine I’m walking down the street and instead of typing my search, my phone is giving me information all the time; it knows your store preferences. It is likely to drive a very, very large mobile e-commerce business.”

– Eric Schmidt

Check out the full conversation with Eric Schmidt below:

Schmidt also mentioned that Gingerbread will be out in a few weeks. The precise date of the version release is unknown but it’s very likely we might hear an announcement from Andy Rubin, Google’s VP of Engineering, during the Dive Into Mobile conference in about two weeks. Stay tuned!

Source: NY Times