The innovative Bump app, which made its debut as a clever way to make short-range data transfers on Apple (AAPL 0.86%) iOS devices, has been available for five years now. Yet search giant Google (GOOGL -1.05%) has just now acquired the small company for an undisclosed amount. Meanwhile, Big G just released its Google Wallet app for iOS, while notably removing the requirement to use near-field communications, or NFC.

Combined, these two moves could potentially signal that Google is losing interest in NFC, considering its slow adoption, and may be exploring other options for short-range data transfers.

In the following video, Erin Kennedy discusses Google's buy with Evan Niu, CFA, and Jamal Carnette.