Google Wallet officially launches
The long anticipated Google Wallet has finally rolled out.
The premise largely mimics the “tap and go” utilising near-field communication (NFC) technology. Google teamed up with Citi-bank and MasterCard USA as the first credit card, so for the moment Google Wallet only works with Citi-MasterCards or the Google Prepaid Card. Thanks to the partnership with MasterCard and the NFC chip in the mobile phone, the Google wallet works with thousands of PayPass merchants.
Christina Warren from Mashable has just revealed her first impressions of the new Google Wallet. After a 6 week trial in New York, she believes the real advantage for Google is what they have termed SingleTap. The SingleTap experience means that users can combine their coupons, loyalty cards and payment method all with one tap.
The real potential
Using the Google Offers app that can save coupons directly to Google Wallet for Android, users can make a payment with your default payment type, apply the coupon you have saved and also apply the purchase to their loyalty card for that store. Christina hailed it as “It’s a seamless process and it offers tangible value over fumbling through various cards”.
Fears over security
Don’t worry, Google Wallet is locked with a PIN, a measure they believe makes it “safer than a physical wallet”.
Fears over your privacy
No, well not right now. Google does record local transactions on your phone, but these transactions are only identified by the amount and location –and are only viewable to you.
Let the mobile payment wars begin
With a large amount of activity is happening in this space, mainstream adoption seems closer than ever.
It will be interesting to see how the competing solutions from MasterCard, Visa, PayPal, American Express will affect (or complicate) short-term adoption. In the meantime, Google’s approach is to create a platform that it wants everyone else to build on. That’s the general message the company has presented to Christina in regards to Google Wallet.
That’s lovely for Android users, but what about my iPhone
Apple has reportedly decided not to include NFC technology in this year’s new iPhone amid “lack of clear standards across the industry”.
Ready to throw out your wallet?
Not just yet. The technology is not in Australia yet and is still in its infancy overseas. So best to keep a hold of your wallet or PayPass enabled card for a little while longer.
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