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Google Wallet: 9 Things You Need To Know About Google's Newest Product

The Huffington Post     First Posted: 05/26/11 05:59 PM ET   Updated: 07/26/11 06:12 AM ET

On Thursday, Google announced the release of Google Wallet, a product that will allow customers to use chip-enabled mobile phones to pay for products at retail locations around the world.

From The Huffington Post's Amy Lee:

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.

Check out the slideshow to see nine things you need to know about Google Wallet:

How To Pay Using Google Wallet
1 of 10
Google Wallet works by tapping your smartphone to any MasterCard PayPass terminal. In order to use Google Wallet, you must download the app to your NFC-enabled smartphone, accept terms and conditions, and enable the app to access your desired Citi MasterCard. Once you enter your credit card information, you'll receive either an email or text message from Google that will confirm you've added the credit card to Google Wallet.
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Click here to read the live blog of the Google Wallet and Google Offers press conference.

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