Google Wallet Nfc Payment Service Likely To Be Launched

By Author: Softweb Solutions
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Google Wallet is a smartphone application which will make your phone your wallet.

This new payment technology by Google will change consumer payment actions. By simply tapping your NFC equipped smartphone, you can make payment for your purchase. This service by Google is likely to be launched on 19th September, 2011 for Sprint Nexus S Android Phone users. This will allow them to use their smartphone as a wallet. Initially, Sprint Nexus S would be the only supported phone for this service, but gradually it will be accessed with all NFC equipped Android smart phones.

Google has several partners lined up by now which includes MasterCard, Sprint, First Data and Citi using two technologies - Near Field Communications and Geo targeting.

Google is also planning to launch NFC stickers that could be linked to the credit cards. This will be especially for those users who don't have NFC equipped phones. NFC stickers will be having certain limited functions compared to NFC built-in phones. Phones without NFC chips will be able to access at least Google Offers. But now, NFC has become very essential feature of smartphones ...
... and so it is expected that by couple of years nearly 50% of the phones will be NFC enabled.

Consumers need not to worry about the security which is generally the biggest concern when payment is made through mobile phones. But Google has some security features for the same, starting from phone locking function. Moreover, to use Google Wallet, users need to enter a four digit pin number every time and then the credit card information will be encrypted. The card is never fully displayed at the time of transactions.

Google is also planning to add its Google Offers service. By this service, all offers by Google will be delivered to inboxes regularly which shoppers will be able to redeem easily from their Google Wallet. It is expected that Google offers will be available first in New York City, San Francisco and Portland.

Initially this service will concentrate to act as a way to pay, but gradually when NFC technology picks up, this service can be used for many things other than making payments. The options are never-ending.

Google Wallet is specifically a mobile application for storing loyalty card information, and keeping track of gift card purchases. These features will make shopping as convenient as done by credit cards. This launch will definitely impact ecommerce business. With the release of this service, Google is trying to build an open ecommerce ecosystem that allows to pay with NFC [near field communication] wallet and redeem schemes in just one tap.

The mobile application development market will grow after its release and consumers' expectations will increase too. For more information about latest mobile applications and mobile applications developers, contact us at info@softwebsolutions.com.