| By :
Elmar Sandyck
I was having an online discussion with a blogger yesterday, and things got exciting when we talked 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, and then plastic cards. We are now about to experience the next big transformation." So goes Google's vision for Google Wallet. Google Wallet is a type of phone application that can turn your mobile phone into a mobile wallet at the point of sale. The Launch is supposed to be Google's way to make mobile shopping a pleasurable experience for businesses especially for 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. Expect it to be launched officially 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's supposed to work in just two very simple steps: Find checkout counters that have the Google Wallet or MasterCard PayPass symbols. And just simply tap your phone into 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; this concept is not totally new or foreign 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's a little trivia for you that was passed to me re: Google Wallet: the VP of Payments of Google is formerly of PayPal. Well, if you want to find out and know more about the Google Wallet, feel free to check out their official website.
|
![[Valid RSS feed]](http://www.articlesbacklink.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
