In his latest interview at the Web 2.0 Summit, Google CEO Eric Schmidt brings along an “unannounced product” that he seems very proud of. Presumably, this is the Nexus S, which is considered by most to be the Nexus Two. The first question from the hosts is “Is that THE device?!” Which Schmidt evades by repeating that it’s an “unannounced device” that he carries around with him.
The feature that Schmidt is demonstrating on this mystery device is related to location. It makes it easy and more secure to verify your location for the purposes of making mobile payments. You physically tap your phone on a physical surface with an embedded chip at the location you’re checking into. As the hosts put it, it’s “bump for everything.” The feature, which Schmidt says is called “Tap and Pay,” could offer a secure method for replacing credit cards. Schmidt also says that Android Gingerbread is coming in “the next few weeks.” The action starts around 50 secs in the video below.