Google, Inc. is gearing up to release its newest application, Google Wallet. Last week in New York, the search engine giant presented a demonstration of the new mobile app that will allow users to use their smartphones like a wallet.
With more and more consumers using plastic cards as a means to pay for products, Google Wallet may just be the next big step in mobile payment technology. With the new application, consumers will be able to pay for products at retail stores around the world.
According to Google, the new service will use Near Field Communication (NFC), a short-range wireless communication technology that “enables data transmission between two objects when they are brought within a few inches of each other.”
What is Google Wallet?
The Android app will allow consumers to pay and redeem offers with one simple tap on the mobile device. Users will no longer have to carry plastic credit cards in their wallets or purses. Google Wallet will store virtual versions of all those cards by allowing users to store credit, loyalty and gift cards in one virtual spot without all the bulk. Eventually, tickets, receipts, boarding passes, coupons and keys will be synced to your Google Wallet.
How Google Wallet Benefits Consumers and Retailers
In an effort to improve the shopping experience for consumers and retailers, the handy new application will make it easier for consumers. By simply tapping on your mobile device, users can automatically redeem offers, earn points and pay for products. And retailers will also benefit by providing other options to customers.
How to Use Google Wallet
Once launched, using Google Wallet will be a simple and seamless process. Just look for the Google Wallet symbol during the checkout process and tap your mobile device’s reader. Your smartphone will send the information to the proper merchant. No PIN numbers will be required.
When the service launches, users will be able to use Citi MasterCard, Google Prepaid Card and various gift cards. Although more phones will be added later, the service will first be compatible with the NFC-enabled Nexus S 4G phone from Sprint.
To set up the Citi Mastercard, just enter your account information. Once verified, your credit card information will be stored to a secure microchip on your mobile device. Virtual Google Prepaid Cards, virtual cards that are funded with your existing credit cards, can also be utilized. After activation, $10 will be added to your account at no cost to you.
Google Wallet is currently undergoing field tests and is expected to be released sometime in the coming months in select cities – New York, San Francisco, Los Angeles, Chicago and Washington D.C. Time will tell if consumers and retailers will embrace the new Google Wallet app.
Sources:
- Google Wallet. Last accessed May 30, 2011.
- The Official Google Blog. May 26, 2011.
Jace Shoemaker-Galloway - +JaceShoemaker-Galloway is more than passionate about online safety awareness. She has devoted and dedicated over five years to Internet ...
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