Google Wallet to topple monetary cards

Google is everywhere! And it can now be found in your wallet!

Now that Visa has recently granted the license for its NFC paying system, the Visa PayWave, to Google. It is now very imminent that Google will soon define a new monetary transaction system using only your mobile phone. Saying more to that, it will draw the line between two frames of what the looks like before and after.

Google Wallet is an app that lets you have money transactions using only your mobile phone. It has an NFC chip embedded in its hardware which will enable you to tap in a pay terminal or in a cashier’s desk. It can also give you Offers from Google or other merchants and can also combine the digital coupons that you collect (loyalty points). If you’re still in a blur with this information then we’ll this scenario.

Example, Google will give you an offer (say 50% off on a specific book) to a bookstore nearby. Interestingly, you went to the bookstore and grab the copy of the prescribed book and brought it to the counter. When you got to pay for the copy, you open up the Wallet app, punch in your pin and tap at the pay terminal. No swiping of several cards, whatsoever. So to sum up, you got an offer, paid your book and update your loyalty points. That is hitting not just two but three birds in one stone. Plus it’s hassle-free because it’s more convenient than swiping your plastic cards.

For now, the Wallet app will hit Nexus S 4G but Google promised to bring up more NFC enabled phones in the future. The system is quite reliable because apart from Visa, all the other card providers (Master Card, American Express and Discover) had submitted their license to Google. And we are excited on just how convenient it will be for us in the future. What say you?

Previous Post Next Post