Google acquires payments company ZetaWire

Internet giant Google has acquired mobile payments start-up ZetaWire, just weeks after it announced the Nexus S smartphone would include NFC technology.

According to the 451 Group, Google acquired the company recently in order to bolster its focus on mobile payments.

The site says it suspects the company was in the pre-revenue stage. However, an apparent filing with the US Patent and Trademark office shows the company holds a patent for mobile banking, advertising, identity management and credit card processing.

The revelation comes as Google is set to put a large amount of resources into its NFC technology, which chief executive Eric Schmidt has said will take the place of a consumer’s wallet.

The revelation also comes after Apple was rumoured to be sourcing NFC technology for use in the upcoming iPhone 5.

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