Back in May, Google announced its public service for mobile payments called Google Wallet. Google Wallet is the search engine giant's attempt to make mobile payments mainstream. Google Wallet is a service that aims to make users ditch their wallet, physical cash and their assortment of credit cards in place of an app for smartphones. And now, Google Wallet has officially launched.
So what exactly is Google Wallet? Well it is an app that one installs in a smartphone that enables a user to pay via credit, debit and other cards exclusively through the phone. As explained in Google's blog, "tap, pay and save using your phone and near field communication (NFC)." As of today, only owners of a Nexus S 4G under Sprint are able to try out this new service from Google. Updates are made over-the-air just by opening the "Wallet" app. Here's a demo of the app for you to check out:
Google claims that the app has been tested extensively in preparation for the release. At launch, Google Wallet only works with Citi and MasterCard but the Big G promised they will be adding support for Visa, Discover and American Express in the future as well. In addition to being able to use leading credit card brands, you can also choose to use a Google Prepaid Card which can be topped up using any of your existing credit cards. For early adopters, Google will be throwing in a nice bonus of $10 if they are able to setup a prepaid card account before the year ends. The search engine giant also indicated that it will support Transit Cards, Boarding Passes, Tickets and many more.
Here's another promotional video of Google Wallet that you might want to see:
If implemented properly, one cannot deny the convenience that Google Wallet can provide. This is definitely the way of the future and it is inevitable. Now will consumers jump in on this mobile payment service? Well, we will just have to wait and see if Google Wallet catches on. But of course there is one huge drawback with this type of payment method. If you are exclusively using your phone to pay for your expenses and whatnots, what happens if your smartphone runs out of battery? Wouldn't that present a problem? Or we should start carrying extra batteries or chargers in place of our wallet?
Well we're sure that Google will somehow come up with solutions to offset such problems. So again, we will just have to wait and see. Here's a pretty positive review of Google Wallet from TechCrunch.Contact Us for News Tips, Corrections and Feedback