Last day we reported about the Google NYC Partner Event and the rumors about a new mobile payment system based on NFC (Near Field Communication) technology from Google for Android based phone which has NFC  (NXP PN65) chips embedded.

So it turns out that the rumors were true and Google officially announced Google Wallet and Google Offers.

Google is rolling out their new mobile payment system in collaboration with Citi Bank, MasterCard, FirstData, Sprint and a plethora of american retailers.

Google will be providing the service and the wallet app for free of cost.