Is Your Small Business Ready For Mobile Payments

The next big change to the way your bricks-and-mortar business will process payments is almost here. Google, Mastercard and Citigroup will pioneer a system that lets customers wave their mobile phones at a POS terminal equipped with near field communications (NFC) short-range wireless capability.

"Google wants to do away with your wallet.

The Mountain View, California, company is working on a partnership with credit industry giants MasterCard and Citigroup that would allow you to make real-world purchases at stores using your smartphone, according to a report from The Wall Street Journal.

If the partnership materializes, buying groceries may require little more than a wave of your smartphone across an installed card reader at the checkout counter."