Visa and Google: We’re Zipping into the Future

Visa’s (NYSE:V) stock traded higher today after Monday’s news that it signed a licensing deal for Google’s (NASDAQ:GOOG) mobile wallet application.

The agreement granted Google a worldwide license to Visa payWave, a NFC-based payment technology. This mobile application enables consumers to use their smart phones as a digital wallet for debit and credit transactions. When paying for a transaction, mobile phones are waved in front of a payment terminal at worldwide retail locations and the payment is made.

Google Nexus 4 Smartphones already operate on MasterCards (NYSE:MA) “pay-pass” systems, which are currently installed and ready to operate at 124,000 locations nationwide.

Don’t Miss: Mobile Pay Commerce to Explode in Coming Years.

Visa’s stock (NYSE:V) is up 3.12% to $92.84 on the news. Shares are up 31.5% year to date. The stock has traded in a 52-week range between $66.50 and $94.75.