It wont be long before you wont have to fumble for cards, cash and coupons in your wallet to pay for your purchases. Google is set to change the way you shop and pay by announcing the official launch of Google Wallet.
Google Wallet is an Android app based on NFC (Near Field Communication technology) that converts your phone into a wallet and allows you to make quick and easy contactless payments in-store with just one-tap on your phone.
As of now Google has teamed up with PayPass-eligible credit card companies including Citi, MasterCard, First Data, and Sprint. For now Google Wallet is being supported by Citi MasterCard and a Google Prepaid card. Currently in its field testing stages, Google Wallet is expected to be rolled out to consumers this summer.
As told by Google
“From the outset, you’ll be able to tap your phone to pay wherever MasterCard PayPass is accepted. Google Wallet will also sync your Google Offers, which you’ll be able to redeem via NFC at participating SingleTap merchants, or by showing the barcode as you check out and many merchants are working to integrate their offers and loyalty programs with Google Wallet.”
Merchants (selected at the moment) can attract shoppers who might be looking forward to shop in their locality by advertising their products/offers on the portal (as a Google Wallet-enabled merchant, your business will be featured on the “SingleTap Merchants” map).
Over a period of time Google wallet lets shoppers save offers on their phones which they can later redeem in-stores. Google wallet also lets customers save loyalty cards on their androids to help merchants build new targets and marketing initiatives that will help them retain more customers.
Once launched, Google Wallet will initially only be compatible with Nexus S 4G by Google (from Sprint) and only PayPass Mastercard users will be able to avail the app. The company says that it will be developing APIs to enable integration with numerous partners.
There is no reason why you should not be a part of this exciting new technology and you can keep yourself up to date about Google Wallet’s availability and product updates by signing up here.