At an event in New York City, Google introduced Google Wallet, a contactless near field communication (NFC)-based cell phone payment platform.

The company is teaming up with Citibank, Mastercard, First Data, Sprint as well as numerous retailers to roll it out. The service will tested in New York City and San Francisco this upcoming summer for various consumers on the Google Nexus S phone. Google said going forward it has the possibility to be implemented on NFC enabled phones if other operating system providers, hardware companies and carriers are willing to work with them.

Along with introducing Google Wallet, Google introduced Google Offers as well. The Groupon like service offers localized deals. Google plans to bring the retail ecosystem from payments, to offers and coupons into a single digital entity.

Here's a look at Google unveiling the new platform.

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