Google Wallet introduces the whole world a new kind of payment scheme using your smartphone. It was the first time innovation in the history when Google introduce the mobile payments. The world became a small place to live with the presence of gadget that is found in your hands that is very smart. And probably, other best smartphone makers are out there making a turn to introduce their own mobile payments.
Invasion of mobile payment will makes consumers getting best shopping experiences that they will never forget, and making them stick forever. In the first place, the value of the services will combine coupons, discounts and payments when people buy things out of the phone. People are getting tired of carrying money and credit cards in the bag. Striking moments when peoples got smartphones in their hand and Google executives already released 100 million Android phones in the market and increasing. Then here comes the cashless transactions which parts of the structure, then basically embarking to a new commerce heading through a new direction when using phone payments.
When people buy things online, seventy percent of them access their credit cards in the internet. So the ripe moment for Google to tap the services when smartphones became the hottest trend for the new generations. By combining the power of information and the payment scheme in one setting, and buying things online and offline at the most modern and convenient ways. Future technology can really makes people happy when shopping with your phone.
Google Wallet will be out this summer officially but as of this moment some local area in the US already started using the mobile payments as trials particularly in San Francisco and New York before expanding to other cities. The payment scheme will be heading through Europe and Asia where smartphone users are increasing in the market place.
How It Works
Android-based Nexus S will become the best Android phones to introduce the mobile payments via Master Card’s Paypass system with an NFC chip inserted by an NXP inside. NFC or near-field communication is a chip technology lets small amounts of data be sent over very short distances between two different devices. This data will includes credit card information, train ticket info, and a coupon bar code.
If you want to buy an item online, an item will pop up on the phone to let you buy an item. Here goes the discounted item, and another one will be coming out going nuts in your phone. Just choose the item you want to buy while you are in the store. Then go to a store cashier where you can wave you phone in a terminal to make a payment. You will receive afterwards a receipt in your phone, as well as the loyalty points will be added by your merchant.
It is much more secure when loading your prepaid or credit card into your phone during funding and paying since it has added security with password and encryption found in a smartphone.
Google Wallet offers also Google Offers. It is part of the system that merchants will give loyalty point to those buyers. This will be credited to the phone automatically as an element for additional benefits. This will tempt online and offline buyers to have more and buy more. As of this moment, the first participating merchants will be Macy’s, Subway, Walgreens, Toys “R” Us, Bloomingdale’s, Guess, and Noah’s Bagels. While the payments service, Google is partnering with Sprint, MasterCard, Citi, and FirstData.
Google is now into discussion with the plans of Google Wallet into expansion to Europe and Asia with banks and networks. This could be the starting point in the new era of payments. Plastic cards and real wallet will become obsolete, and nothing else could be found but the best smartphone in your pocket.
Well, we have to wait for another round of developments.