Google is set to dish the dirt on its plans to turn your Android smartphone into a digital wallet at a special event in New York on Thursday.

The company is expected to discuss how Android phones boasting the 2.3 Gingerbread operating will be able to pay for goods and services by swiping their phone on a reader device.

The NFC tech embedded in Android phones like the Google Nexus S will allow users to check-out, redeem coupons and earn loyalty points by flashing their phones at the checkout, according to reports.

Retail partners

Although Google has declined to comment at the time of writing, sources familiar with the matter say that the company has already lined-up a select few retail partners.

US stores Macy's, Subway and American Eagle Outfitters are believed to be among the participating stores for an initial roll-out in New York and San Francisco.

The announcement is likely to see a new wave of NFC-enabled apps, which would assist Android owners in making payments.

We'll be keeping our nose to the ground for more information on any announcement from Google throughout Thursday.

Source: WSJ