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Google and Sprint's mobile payment announcement coming this week

Google's Nexus 4G is about to get a lot of exercise as Google prepares its mobile payment service for a May 26th announcement.

With Google and Sprint's Google Voice collaboration finally off the ground, the two companies are moving on to bigger and better things.

Those things could come as early as this week. Bloomberg reports that the companies' next project is Google's previously-hinted mobile payment service. Via the plan, owners of phones equipped with a near-field communication chip can use their phones to pay for purchases and redeem coupons.

Google's Nexus 4G is expected to be the first device to support  the new payment system, though it is likely that Sprint will announce other supported devices as well. The system launch first in New York, San Francisco, Los Angeles, Chicago and Washington, D.C.

The announcement will coming May 26 during a media event in New York.

[Via Bloomberg]