Huge news coming out about Google Wallet today from Adweek. Trial runs have started that will allow you to pay for just about anything just using your phone. Google decided to call it a wallet because it should eventually be able to work with all of your credit cards and serve as your wallet, eliminating the need for a tangible one. The whole movement is starting with Citi and Mastercard, but I see HUGE growth as this application roles out.
Now this is going to be revolutionary no matter what, but what is going to propel it mainstream superfast is that Google is not going to charge the merchants for credit card transactions. Really. You think they are going to jump on that attractive offer? I do! Google plans on making money from advertising. Not sure if this will be banners and things on the app that you use to scan the payment with or what – but I can see huge promotions being supported from all sides if you are offering no fees.
“‘Our goal is to make it possible for you to add all of your payment cards to Google Wallet, so you can say goodbye to even the biggest traditional wallets,’ the company writes.
The new service will be available at 300,000 shops worldwide that accept MasterCard PayPass, Bloomberg reports.
Google announced the new app in May, with Citi and Mastercard as initial launch partners. Future versions of the app will support Visa, Discover and American Express cards, the company said on Monday.” – Dan Walker Smith, Adweek
PS. That isnt the only big Google news this week. Google+ officially opened to the public TODAY. No longer is an invite needed, so . . . will this mean a mass movement to the platform. Probably not. Those involved with technology and interested in Google+ already joined, and I dont think there is a huge line waiting till opening day. I do hope more people migrate though, because right now I find Google+ super boring. Even though I know quite a few people who are on it, there are hardly any new posts. It’s weird to post when no one else is . . . you could stay at the top of the news feed for a LONG time. So come one, come all and join me on Google+. (http://googlemobile.blogspot.com)