Leadership through ideas is one thing. Then leadership through execution is another. The Google wallet arrived. For now it is fairly limited in cards and services it accepts – but it is clearly open for business.
Here’s a great “first look” from Mashable:
“Google officially rolled out its Google Wallet mobile payment system on Monday. We’ve been using a Sprint Nexus S 4G with Google Wallet for the last six weeks. Google Wallet is still in its infancy, but the system already shows a lot of promise.
Right now, Google Wallet only works with Citi-Mastercards and the Google Prepaid Card. Visa and Google announced a worldwide agreement to support the Visa payWave app, but it will still be up to the financial institutions and banks to add support.
Types of Mobile Payments
Over the last six weeks, I’ve used Google Wallet at a variety of locations around New York City. Thanks to its partnership with Mastercard, the NFC chip built into the Nexus S 4G works with any of the thousands of PayPass merchants. This means that if you are in a taxi cab or at Walgreens, you can just tap or wave your phone to make your payment.
The “tap and pay” method of payment is cool, but the Google Wallet feature that has the most potential is what Google is calling SingleTap. The SingleTap experience means that users can combine their coupons, loyalty cards and payment method all with one tap.
Google showed me a demo of the SingleTap payment using one of Macy’s POS terminals and the results were impressive. Using the Google Offers app that can save coupons directly to Google Wallet for Android, you can make a payment with your default payment type, apply the coupon you have saved and also apply the purchase to your loyalty card for that store. It’s a seamless process and it offers tangible value over fumbling through various cards.”
Read the rest of Christina Warren’s review.