Google Wallet has Arrived

Posted on 30. May, 2011 by Matt Newell in Digital & Interactive

Google’s mobile payment platform ‘Wallet’ launched in the USA over the weekend. A host of major retailers including Subway, American Eagle and Macy’s, have signed on for the launch with the financial platform being provided by Mastercard and Citi.

The application provides the ability to pay for purchases in-store via credit card or pre-loaded Google debit card by swiping your phone in front of a ‘paypass’ device attached the register. For the technology to work your phone needs to have ‘near-field communications’ technology built in, which is currently only available on the Google handset, as well as the Nexus S Android phone. (But surely the other smartphone manufactures will implement it very quickly.)

Beyond just facilitating payments, Google Wallet also integrates coupon functionality and rewards programs. So if you’re walking down the high street at lunch time, Google Wallet might pick up a coupon deal as you approach Subway. You can then go inside, select and order as usual but pay by swiping your phone, which will simultaneously deduct the funds from your credit card and award whatever bonus structure exists for that loyalty program (e.g. buy 10 get the next one free).

Putting the customer in control is one of the key trends of New Retail and mobile based payment technology, like Google Wallet will certainly be a key enabler.

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