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Google Wallet - launching

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Google Wallet Demonstration. Comment acheter une boisson avec Google Wallet. Wallet - make your phone your wallet. How the New ‘Google Wallet’ Mobile Payment System Works. As rumored, Google has officially announced its new mobile payment system.

How the New ‘Google Wallet’ Mobile Payment System Works

The platform is called “Google Wallet” and is a joint venture between Google, MasterCard, Sprint and security company First Data. The system is currently available on just a single phone—the Nexus S 4G from Sprint—and works with MasterCard’s “PayPass” tap-to-pay kiosks in New York and San Francisco. “We are just getting started. This will take a while to come to fruition,” said a Google rep during a demonstration in New York today. How It Works Google Wallet will live as an app on the Nexus S smartphone.

When you add your Citi MasterCard, Citi verifies the card with First Data, which then “provisions” the card (gives it the okay) to be used by your phone. As for retail transactions, provided the store you’re shopping at has a PayPass-enabled terminal, you’ll be able to tap your phone against the terminal to have the money withdrawn from your account. Security (See Also: Google Wallet Is Coming. Google Announces 'Digital Wallet' - Digits. Google Reveals Mobile Payment System [Live Blog] At Google's media event Thursday in New York City, the company unveiled Google Wallet, its mobile payment system, as well as more details about Google Offers.

Google Reveals Mobile Payment System [Live Blog]

Mashable was at the event for the announcements. Here is a recap of what happened. 11:52 a.m. The event is about to get started. Press and partners are here and we're all anticipating Google's not so-secret NFC and contactless payment plans. 12:00 p.m. 12:02 p.m. 12:05 p.m. 12:07 p.m. Google Unveils Wallet And Offers: An Open Platform For Mobile Payments. We’re here at Google’s massive New York City HQ (they own an entire block) for what Google was calling a “partner event” but everyone knew was really an “NFC event”.

Google Unveils Wallet And Offers: An Open Platform For Mobile Payments

Sure enough, Stephanie Tilenius, Google’s VP of Commerce, has taken the stage to announce Google Wallet and Google Offers. Right off the bat, Tilenius wanted to make it clear that this would be an open platform. She invited “payment networks, carriers, and banks to join us in creating tomorrow’s shopping experience”. And some of those partners are already on board. Citi, Mastercard, FirstData, and Sprint are the initial partners. For Google Wallet, Tilenius says that the field trials will begin today and it will be official out this summer. With Wallet, you’ll be able to add your existing credit cards (though only Citi-backed Mastercards are a partner right now of the major card companies).

Right off the bat, Google Wallet will work with Mastercard Paypass. The initial trials will be in San Francisco and New York.