Google has patented a text message payment system that may be used in the Google Phone, according to some reports.

SE Optimse has the details on the patent which details how text messages could be used to pay for goods from vending machines and retailers as well as secure methods for validating larger payment amounts.

With the Google phone tipped to launch this year could a payment system be the killer application that they need?

Thanks (again) to John from wood burning stoves for the tip!

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