Eric Schmidt, Google’s chief executive, showed off the company’s next Android-powered phone, which will contain a chip that will allow people to make payments via their handsets.
Opening this year’s Web 2.0 Summit in San Francisco, Schmidt showed off the new phone. ... The latest version of Android, called Gingerbread, due to come out in the “next few weeks”, will power this new handset according to Schmidt, and will feature this new mobile payments system as a key tool. “This could replace your credit card,” Schmidt said.