Google Unveils Google Wallet, Google Offers: What's New

Google announced today that it will introduce Google Wallet, a way to pay for goods using just your mobile phone.

Google Wallet will launch this summer, in partnership with Citibank, Mastercard, Sprint, First Data and a slew of stores. The Wallet, an app for smartphones, will use Near Field Communication (NFC) technology so that users can pay just by waving their phones over a terminal when they pay. At the same time, Google will continue rolling out Google Offers, which offers users a way to find and use coupons.

At the press conference, Google announced that 2011 and beyond would be the age of "MoLo" -- mobile and local.

"Because Google Wallet is a mobile app, it will do more than a regular wallet ever could. You'll be able to store your credit cards, offers, loyalty cards and gift cards, but without the bulk," Google wrote on its blog. "When you tap to pay, your phone will also automatically redeem offers and earn loyalty points for you. Someday, even things like boarding passes, tickets, ID and keys could be stored in Google Wallet."

In the beginning, Google Wallet will be compatible with the Nexus S 4G on Sprint, though the company plans to expand to more phones in the future.

With the Google Wallet app, a user would tap the phone on the reader, which then sends payments and with some merchants, add offers and collect loyalty information.

Google also explained that the app will be protected with "multiple levels of security," including the phone lock, a required Google PIN, and encrypted credit card information.

Merchants such as Macy's, Subway, and Walgreens are on board to be Google "SingleTap" merchants, meaning that users can pay with just Google Wallet and a tap, as well as earn loyalty rewards and redeem electronic coupons. Other merchants that are Paypass enabled, like CVS and Jack in the Box, will accept payments from the app as well. Google Offers will work with Google Wallet, so that users can save offers to the wallet.

"At first, Google Wallet will support both Citi MasterCard and a Google Prepaid Card, which you'll be able to fund with almost any payment card. From the outset, you'll be able to tap your phone to pay wherever MasterCard PayPass is accepted," the blog wrote.

Google hopes that more cards--including boarding passes, concert tickets and even driver's licenses--will also one day be able to join the Google Wallet.

"Eventually everything can go in the Google Wallet," Google said at the press conference.

Comments

[hungrypilot]

06:27 PM on 05/27/2011

This has been used in Asia for many many years. I'm excited to see in the U.S. finally.

[mythos2]

07:36 AM on 05/27/2011

Giving their track record on privacy there is no way I would ever want Google tracking all my purchases because there is no telling where this info would end up.

[MyTake]

07:52 PM on 05/26/2011

Well, I hope the brilliant boys and girls at Google do some more thinking on this invention.

Instead of just a TAP

[Joe Moore]

06:25 PM on 05/26/2011

BFD - This kind of thing has been available on Japanese phones for almost 10 years, if not more. So has person to person video chat, but of course no one knows that and the new iPhone is so ahead of it's time (snark).

Hey Americans! We're WAAAY behind in mobile technology.

[Mitchman57]

06:20 PM on 05/26/2011

I wonder why PalPal hasn't joined this market? I would think it'd be a natural extension for them.

[DrReve]

05:11 PM on 05/26/2011

Who cares, I want it! Sheeesh, the same thing was said with the advent of internet shopping/purchases. Yet we've managed to make it work and most people use it without a problem. All the cynics and pessimists could not see the possibilities or convenience if it. If your automatic thought was a negative one, then you're one of them. So just stay in the 1990s where you belong. ;)

[ATLBravesFan]

04:50 PM on 05/26/2011

I don't know about you, but I wouldn't want that kind of personal/financial information on a cell phone. If that sucker gets lost or stolen, it'll be a nightmare even if security is good.

[CurrencyIsKing]

04:14 PM on 05/26/2011

Coming out soon Google Wallet for Criminals.

[CurrencyIsKing]

04:13 PM on 05/26/2011

Wow, what could possible go wrong with that technology?

[JasonMcl]

04:28 PM on 05/26/2011

The same was said about debit cards. There will always be abuses along the way, but retailers and banks will adapt and overcome.

Google has always taken security very seriously and considering the price of failure here, you know that it will be a tough nut to crack by the time it becomes widely available.

[budanatr]

04:01 PM on 05/26/2011

This stuff is very cool but it is also important to do a reality check before getting too excited.
http://electransactions.blogspot.com/
It only works with 1 credit card
It only works with 1 phone
Etc.

[Domingo Rosa]

04:00 PM on 05/26/2011

Google announces there mobile payment system Google Wallet http://bit.ly/h1rLOK

[budanatr]

03:42 PM on 05/26/2011

http://www.sentegra.com
And these guys have patents pending on what Google is doing.
Reality Check
http://electransactions.blogspot.com/
There is only 1 phone capable of doing this in the US and Europe has 2. How many people are going to change to a new phone and pay the price just to be able to tap and pay with a Citi MasterCard? Blackberry will have 1 at the end of this year.
Hype and propaganda but cool propaganda.

[North2011]

03:40 PM on 05/26/2011

How convenient, soon they will implant it in your body...

"HOW CONVENIENT", how lazy can American get?

[hawkrew]

03:55 PM on 05/26/2011

I'm not sure advancement in technology equates to laziness.

[seshomaru101]

07:28 PM on 05/26/2011

You can't say this means Americans are lazy without calling the Japanese lazy as well since of course they've had this technology for YEARS already. What do you think about that?

US Mobile phone markets don't want phones to go the way of computers, where a new and better one comes out every 2 seconds, so they're throttling the technology here so they can charge us more.

Besides... Haven't you ever heard the phrase "Laziness is the mother of invention"? and if thats true with all the tech the japanese have that we don't. They must be pretty damn lazy huh.

[BUTCHER111]

03:37 PM on 05/26/2011

And when a thief gets a hole of it will Google help you get it back? Will Google or the banks help get the money stolen from you back and give you back the expenses you lost?

[worldtrav]

03:40 PM on 05/26/2011

Nope, asked verizon - I lost my GPS phone, can you help me find it?

Nope.

Next.

[Skotyman]

04:28 PM on 05/26/2011

Will whoever made your wallet be responsible for all the credit cards when a thief steals it?
Same thing.

[ccrevecoeur78]

03:35 PM on 05/26/2011

Nope sorry I will pass on the offer.