Web giant Google has teamed up with MasterCard and Citigroup to develop a mobile payment system specifically for the Android phone. This effectively turns the Android phone into a portable wallet. Customers would just be able to wave their phone in front of a reader in order to pay for goods.

Experts claim it is a safer method of payment than magnetic strip credit cards.

The phone will also store shopping habits and trends so that retailers and businesses can more efficiently target consumers with discounts and advertisements.