In the past few thousand years, the way we pay has changed just three times: from coins, to paper money, to plastic cards. Coming soon is a new way to pay…Google Wallet. Google Wallet will store all of your existing plastic cards (debit and credit) on your phone.
Google Wallet is a mobile application for mobile devices running its Android operating system that makes your phone your wallet. With partnership support from Citi, MasterCard, First Data and Sprint, Google hopes to jump-start the mobile payment era in the United States.
When it launches you will be able to tap to pay at hundreds of thousands of merchants. Google has set up a website to find locations where you can already use it, or you can use MasterCard’s PayPass locator app for Android. When it launches, Google Wallet will be compatible with Nexus S 4G by Google, available on Sprint. Over time, they plan on expanding support to more phones.
This is just the beginning, in time, your phone with Google Wallet will be the one thing that holds everything you need to carry.
Google Wallet will bridge online and offline commerce in a very powerful way, and will improve the ease of online promotion for local businesses. Google Wallet and Google Offers will make it one step easier to reach potential customers. For example loyalty cards will be more effective if customers aren’t deterred by having to keep track of dozens of cards in their wallet, or needing to print out coupons. Everything will be stored on your phone