Google Wallet
Google Wallet is the latest attempt to unite your credit card with your smart phone. Coupons and loyalty cards are coming along for the ride. Will Google be the company that transforms your smart phone into the only form of payment you need to carry with you? It really doesn’t matter, one way or another, we’re going to get there. The search engine giant just announced that its latest mobile phone app, Google Wallet , will be coming soon to the United States. The digital payment system will use near field communication (NFC) so that you can check out without swiping.
New Google Wallet Will Face Stiff Competition
Google Wallet "is one of the biggest investments we've made at Google for a very long time"
"Larry and Eric personally convinced me" to make the move to Google, Osama Bedier, the company's VP of payments, has told NFC World as he set out Google's commitment to building an NFC platform that is open to all — and revealed that Google Wallet will eventually be able to hold keys, ID credentials and driving licenses. GOOGLE OFFERS: Businesses will pay to reach new, but not existing, customers "This is one of the biggest investments we've made at Google for a very long time," Osama Bedier, the search giant's VP of payments has told NFC World following a presentation at the NFC Payments Europe conference in London today.
Google Wallet for online commerce is a free service* that allows merchants to process frictionless payments for mobile and e-commerce transactions. This service lets users pass their payment instrument details, shipping address, and other information stored within their Google Wallet to a merchant in the context of the merchant’s mobile web payment flow. The merchant can then use this information to process the transaction via their existing credit card infrastructure. *Free service means Google Wallet will not charge merchants anything to use this. Merchants still pay standard processing charges to their processor. <p style="text-align:right;color:#A8A8A8"></p>
Wallet - FAQ
Samsung Electronics officially launched its newest flagship smartphone, the Galaxy S4, which it hopes will become a best-seller like its predecessor, the Galaxy S III, and help Samsung retain its position as the No. 1 global smartphone maker. The Galaxy S4 features NFC capabilities, but they are not pushed forward by the company. All Samsung S4 will include a Visa payWave payments applet, preloaded on an embedded secure element, the result of the recent partnership announcement between Visa and Samsung ( cf. Smart Insights Weekly #13-10).
Smart Insights - smart card industry newsletter: telecoms, payment, identity
Google Wallet will enable consumers to tap, pay and save with their phones MAY 26, 2011, NEW YORK, NY -- At an event today, Google, Citi, MasterCard, First Data and Sprint announced and demonstrated Google Wallet , an app that will make your phone your wallet so you can tap, pay and save money and time while you shop. For businesses, Google Wallet is an opportunity to strengthen customer relationships by offering a faster, easier shopping experience with relevant deals, promotions and loyalty rewards. "Today, we've joined with leaders in the industry to build the next generation of mobile commerce," said Stephanie Tilenius, vice president, commerce and payments, Google. "With Citi, MasterCard, First Data and Sprint we're building an open commerce ecosystem that for the first time will make it possible for you to pay with an NFC wallet and redeem consumer promotions all in one tap, while shopping offline."