Although the ability to use NFC for a purchase has existed for quite some time now in the form of Google Wallet and Isis, many credit card companies have been hesitant to offer their own competing service. That soon may change however, as MasterCard and Visa are currently working on trials that would help incorporate NFC payments for the two credit card giants. Both entities would use a new feature found in Android 4.4, known as Host Card Emulation. The technology allows credit card information to pass directly to a payment terminal through a smartphone without any information being locally stored.
The specification, at this point in time, is in the process of being finalized. Sometime in the first half of this year, MasterCard and Visa are expected to provide more details on the implementation of NFC payments, using Host Card Emulation found in Android KitKat.