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Google Wallet, Anyone?

By Elmar Sandyck

Republish: EasyPublish™ Published: 19Aug2011 Word count: 408 Viewed: 127 time(s) Get Free Content For Your Site

I was chatting online with a blogger yesterday and we got into an animated discussion about Google's latest baby - the Google Wallet.

"Tap, pay, and save with Google Wallet.

In the past few thousand years, the way we pay has changed just three times—from coins, to paper money, to plastic cards.

Now we are on the brink of the next big shift."

So goes Google's vision for Google Wallet.

Google Wallet is a phone application that literally turns your phone into a wallet at the point of sale.

Its launch is supposedly Google's way of making mobile shopping a total pleasant experience for businesses and most especially the consumers. From the part of the consumer, payment is made even easier; and, from the merchants or businesses' end, promos, discounts and offers like coupons to be given away and loyalty programs can now be easily facilitated. Credit cards could also be stored. In the future, Google Wallet is envisioning that airline boarding passes and tickets, ID and even keys could be stored in it!

Currently, Google is still field-testing it in the US and is working with Citi, MasterCard, Sprint, and First Data as well as a number of retailers. It will officially be launched in the summer.

Google Wallet is combining NFC or near-field communication with what they are calling PN65, a secure element chip paired with NFC. There is no need of swiping.

It supposedly works in two very easy steps: Look for the Google Wallet or MasterCard PayPass symbols at checkout. And, just tap your phone on to the reader!

Voila! Payment has been processed and made.

Well, you have to hand it to Google to market it anew as if it were something revolutionary when in fact; it is not a totally foreign concept at all. I would like to think that the reason Google has partnered with MasterCard on this endeavor is that the latter has been using tapping of credit cards to wirelessly pay instead of swiping the card (the concept behind the MasterCard PayPass).

And, here is a bit of trivia that was shared with me re: Google Wallet: the VP of Payments of Google is formerly of PayPal.

Well, if you want to know and read more about Google Wallet you can check it out in their official website.

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