Google's Conversation Mode for its Translator service is really 'Universal Translator-esk'. You speak into your phone in your language, the service translates and speaks the language of your choice. The other person speaks their language, and the service translates it back and reads it to you.
"Google has just just added a little bit of Star Trek to Android. An update to the Google Translate app adds “Conversation Mode”, which acts a lot like the universal translator from the TV show.
In Conversation Mode you speak into your phone, Google translates your words into the language of your choice, and then the phone reads out the results in a pleasant robot voice."
Video embedded below. (from, and, and) (Jump to 26:20)