Google Introduced Google Wallet: Mobile Payment System

Finally Google has announced the replacement of human wallets and have introduced eWallet for transactions worldwide. Google has teaming up with MasterCard, Citigroup and Sprint to launch a new phone based Mobile Payment System. Which is officially known as Google Wallet, which will enable special chips embedded in many future Android devices to be used for payments? Instead of swiping a credit card, customers will be able to wave their Android phone in front of a reader to make a payment.

According to Stephanie Tilenius, Google's vice president of commerce; 

"We believe the shopping experience has not yet been transformed by technology or by magical experiences. Now, your phone can be your wallet, you just tap, pay, and save."

Google Wallet is being tried out first in a very limited release in New York and San Francisco. At the moment it will only work with Sprint�s Nexus S 4G phone but more Android based phones will be added in the coming months. It will also only work at the moment for people who own a Citi MasterCard or a Google Prepaid card with support for Google Wallet. A number of retailers and merchants have pledged support for Google Wallet. In addition, Google also announced a second related project today called Google Offers that will give you a special offer per day from a merchant that you can make use of via Google Wallet.

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4:12 AM | 0 comments

Google To Launch Mobile Payment System

Google is now joining hands with Mastercard and Citigroup to setup a mobile payment system for Android phones that will turn Android phones into a kind of electronic wallet. This new technology, which is in its early stages, will allow Android consumers to use their Android phones in a form of checkout counter to make payments.

The planned payment system would allow Google to offer retailers more data about their customers and help them target advertisements and discount offers to mobile device users near their stores, the sources told the WSJ.

Google is not expected to get a cut of the transaction fees, the paper said.

Initially, holders of Citigroup-issued debit and credit cards would be allowed to pay for purchases by activating a mobile payment application developed for one current model and many coming models of Android phones, the paper said.

Google, Citigroup and Mastercard could not immediately be reached for comment by Reuters outside regular U.S. business hours.

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12:27 AM | 0 comments