A few days ago, Google unveiled Google Wallet to provide mobile payment service to allow customers who are using Android phones to make payments via their phones. As far as I know, Google Wallet will be using Near-Field Communications (NFC) chips which are already available in Google Nexus S Smartphone. Therefore, you will be able to wave and pay with your Android phone in the near future.
Several partners such as Citigroup, Mastercard, FirstData and Sprint are joining as Google Wallet’s partners to provide better service to the customers. Google spokeswoman – Stephanie Tilenius mentioned that Google Wallet is an open platform and she appealed more payment networks, retailers, carriers and banks to join in order to create a better shopping experience to customers.
Features of Google Wallet:
Google Wallet acts like credit card but faster and better than that because shoppers can pay with a single tap or a wave on payment device. Besides that, it will help retailers to understand more shopping behavior about their customers and able to provide instant discount offers to customers via the system. This will definitely increase more sales to the retailers and enhance user’s buying experience.
As for consumers, you can get the product’s info and price quickly by tapping on the terminal using your Android phone (equipped with NFC technology) without asking help from the shop assistants and make the payment accurately and faster.
Using Google Wallet is much better and secure because of its security features. It equips with phone lock which requires Google pin to unlock, information of credit card is securely encrypted and will not fully displayed.
Google Wallet will be a popular payment method in the future because more people will own a Smartphone. I believe if this mobile payment service is convenient, secure and efficient to customers, people will start using it and never leave it just like our hand phones.