Google forays into Mobile Payments through Wallet

“In the past few thousand years, the way we pay has changed just three times—from coins, to paper money, to plastic cards. Now we’re on the brink of the next big shift,” exhorts Google, the undisputable king of Online search.

In what could certainly be a bad news for rivals, and which could further mark its growing dominance of the fast-growing mobile arena, more importantly, m-Commerce, Google yesterday unwrapped its soon-to-be launched mobile payment application, Google Wallet. The application, the search giant promises, will transform your tiny phone into your wallet. “You’ll be able to tap, pay and save using your phone and near field communication (NFC),” a communiqué from the Mountain View, California-based behemoth said. Google Wallet is currently under field test now and the company is planning for its commercial launch soon.

Google Wallet is a key part of the Online search major’s ongoing efforts to extend its Web dominance to the fast-growing yet still-to-explode field of mobile commerce or m-Commerce. According to the company, while its new application is aimed at further enhancing the convenience factor for the customers and save them from the hassles of carrying a number of cards from credit/debit cards, gift cards, coupons, loyalty cards etc, it also aims to give merchants more ways to offer coupons and loyalty programs to customers, as well as bridging the gap between online and offline commerce.

“When you tap to pay, your phone will also automatically redeem offers and earn loyalty points for you,” it says. And the 800-pound Search gorilla hopes that ‘Someday, ‘even things like boarding passes, tickets, ID and keys could be stored in Google Wallet.’

However, the new service is only limited to United States of America and will roll out in United States and other European Countries in the near future. For users residing in the US can enter their zip code, in the image below, to check the availability of the Google Wallet in your area:

http://www.google.com/wallet/where-it-works.html

While the world awaits the formal launch of Google Wallet, you may also expect some more exciting moves by the giant as it straddles across the Web and Mobile spaces swiftly to protect and extend its dominance. Rivals better watch out!

Keep watching this space, as we bring you the latest from the technology world. 

With inputs from Venky, its Amy, Signing Off!
 
(Image courtesy: Google)