Google is continuing on its path to expand its already broad portfolio through acquisitions. With its latest claim of Zetawire, a Canadian company focused on handling credit card payments via near field communications, the Internet giant is one step closer to claiming the lead position in phone-based, swipeless transactions.

A recent ZDnet post focused on this move, highlighting that Google (News - Alert) actually purchased the company in August, giving it plenty of time to start exploring the technology available on the Zetawire platform.

While this acquisition does help to give Google a leg up in this space, there is still much work to be done before widespread adoption can happen. For one, terminals in retail locations have to be retrofitted to bring the technology into the mainstream. There is a cost associated with that and until retailers are convinced of the benefits, they may not be ready to make the investment.

At the same time, efforts by major banks are still considered to be years away, even with the early efforts put forth by the ISIS consortium of AT&T, Verizon (News - Alert), T-Mobile and Discover. The idea of a virtual wallet in one device to which most users are already tethered every day, however, is still quite attractive.

One industry analyst was captured in the ZDnet piece as saying that the Zetawire patent provides for mobile baking, advertising, identity management, credit card and mobile coupon transaction processing. This technology is the take away needed for a credit card and for the consumer to have the tools to start buying items with his or her smartphone.

Google has already purchased 36 companies this year alone, including Zetawire. And, while Android (News - Alert) is enjoying growing success in the market, it still faces considerable competition from Apple, competition that will only intensify when the iPhone arrives at Verizon in early 2011.

As such, Google will need to introduce a full range of value-added services, such as credit card payments with NFC or Google Maps turn-by-turn navigation, both of which are exclusive to the Google platform. The Zetawire helps the company to prepare for a changing competitive landscape where the future could be anyone’s ballgame.