Several Australian retailers have expressed interest in a new Google service that allows consumers to make store purchases, redeem coupons, and get loyalty points by waving smartphones in front of a small reader at the checkout counter.Terry Smart the CEO of JB Hi Fi said recently that Smartphone payments and barcode scanning of product information were just some of the innovations that his company is looking to introduce in the future.

Later this week Google will reveal new near field communication technology, which will be embedded in new smartphones powered by Google’s Android software. The technology transforms the phone into an electronic wallet which when swiped in front of a scanner makes a payment.

Yesterday Jetstar introduced new swipe technology that lets passengers obtain a boarding ticket by swiping their Smartphone over a scanner.

In the USA Google is set to trial the program with several retailers include Macy’s and the Subway fast-food chain.

The Wall Street Journal said that retailers that participate in the program will have upgraded terminals at the point of sale that can read the mobile devices and provide special offers.

Food outlets such as Subway and Boost Juice as well as local coffee shops will be able to monitor loyalty programs via a Smartphone or tablet eliminating the need to print loyalty cards said a Google source.

Google has been working on a mobile payments platform with credit card and financial companies such as Citigroup and MasterCard, as well as retailers and hardware makers claims the WSJ.

The Google payments platform will allow software developers to create mobile applications, or apps, which take advantage of the technology.