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On Google, Paypal & Mobile Payments

A day after Google announced the Google Wallet, an NFC ( Near Field Communication) based mobile payments system, that lets users make contact-less payments through their NFC enabled mobile phones on a compatible terminal, online payment service company PayPal sued the internet major alleging that it stole the company's trade secrets through two former executives Osama Bedier, and Stephanie Tilenius, whom Google hired, earlier this year. Google spokesperson Aaron Zamost, in a reply to Bloomberg has said that the company has not yet received a copy of the complaint and would not be able to comment until it gets a chance to review it. What Is Google Wallet? Google has partnered with Citi, Master card, First Data and mobile service provider Sprint, to offer users a payment product that resides in their mobile phones in form of a mobile app. It works with NFC technology, through which users can make payments by simply tapping their mobile phones on a terminal. Currently, it works with MasterCard PayPass terminals and supports Citi Mastercard and Google Prepaid Card. So essentially, users just feed-in and verify their credit card or bank details into their compatible phones, which then acts like a wallet and use it for offline transactions, instead of swiping cards. Google demonstrated the service at its New York office and plans to launch it commercially in the near future. The PayPal Lawsuit Filed in a state court in San Jose, California (Download here), the suit filed by PayPal against Google,  alleges: - Osama Bedier, who was…

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