Google may be getting a little more serious when it comes to mobile payments. The Wall Street Journal claims that the company has teamed up with MasterCard and Citigroup to bring near field communication (NFC) technology to more Android devices (the technology is currently supported on the Nexus S).

NFC technology, would allow you to pay for items by waving your phone in front of a sensor at a store, rather than having to fork over a traditional plastic credit card or cash. The system would also allow retailers to tend users targeted ads based on their location, and offer discounts for items while a user is in a store where they could potentially use that discount. With the Citigroup partnership, users will also be able to track their credit card spending direct on their phones.

While NFC has the perception of being unsafe, the technology is actually considered to be more secure than traditional cards. Allowing for better encryption at the point of sale, amongst other things.

What do you think about NFC payments? Would you welcome the opportunity to use your phone as your credit card, or would you rather hang on to your traditional plastic?

[via The Wall Street Journal]