Verizon Wireless, the largest U.S. wireless carrier, blocked Google Inc.’s mobile-payment system from the new Galaxy Nexus smartphone, citing security concerns.

The smartphone is the first to run a new version of Android, and is due to be released soon by Verizon.

Examinations by Wired and other publications reveal that the international version of the phone has the chip necessary to run Google Wallet.

The previous model in the “Nexus” line, which Google uses to launch new software and features, is sold by Sprint (NYSE: S) and works with the Wallet.

But Verizon is part of a consortium of carriers that are planning its own payment application, and the company says its waiting to provide a wallet application until it can provide “the best security and user experience.”

Verizon Wireless, co-owned by Verizon Communications Inc. (NYSE: VZ) and Vodafone Group Plc, is working to have “the best security and user experience,” Jeffrey Nelson, a company spokesman, said today in an e-mailed statement. The Basking Ridge, New Jersey- based carrier will allow the Google service, called Google Wallet, “when those goals are achieved.”

The move comes amid intensifying competition between services that let consumers pay for goods with mobile phones. Verizon Wireless and partners AT&T Inc. (NYSE: T) and T-Mobile USA plan to invest more than $100 million in a joint venture called Isis, which competes with the Google service, people with knowledge of the project said in August.

The Galaxy Nexus, made by Samsung Electronics Co. (005930), runs the latest version of Google’s Android software and will go on sale this month. It is Verizon Wireless’s first Android phone that uses a near-field communications, or NFC, chip that — through Google Wallet — can transmit payment information to store registers.

Verizon’s Isis venture plans to start its service in a few markets next year.

(Bloomberg and The Associated Press contributed to this story.)

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