As expected, Google announced its Google Wallet payments programme and its Google Offers open platform at its headquarters in New York on Thursday.
The Google Wallet phone payment system for Android phones allows shoppers to buy goods by waving NFC-enabled handsets. Photo credit: Google
The Google Wallet payment system uses both near-field communications (NFC) and geo-targeting technologies to let shoppers use their Android smartphones to pay for goods in stores, the company said. It will officially launch this summer in San Francisco and New York, followed by a rollout across the US.
The company already has several partners lined up for the mobile wallet scheme, including Sprint, First Data, MasterCard and Citi. As far as the actual credit cards stored in the phone, Google Wallet will support multiple cards, including Citi's MasterCard and a Google pre-paid card that can be reloaded by any existing credit cards.
"Google Wallet combines offers and payments at the point of sale," Google's vice president of commerce, Stephanie Tilenius, said at the media event. "Your phone will be your wallet. Just tap, pay and save."
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