Google, a God father of search engines, has succeeded in achieving the milestone of introducing payment method for goods and services with a swipe of a phone.
On 26th of May Google presented their application of Wallet in a press conference this year and after a short span of less than 6 months Google Wallet hits market with a lot of promises regarding ease, style, security and availability. Wallet is a system of for the user to make payments by using visa cards, credit cards and gift cards among other things, along with enjoying sales promotion on their cell phones on the go. The Google Wallet make secure payments by using field of communication only by tapping phone on checkout terminal having pay pass, which is easily available anywhere.
Google Wallet was officially released on 19th of September 2011. At the moment the application is only for one phone by Google, Sprint Nexus S 4G although official reports say that Google has future plans of developing more applications for more phones all around the world. Development of app for more phones will not only create an ease for the customers but also provide a new revolutionary path to telecommunication and banking industry worldwide.
Google Wallet service will work with over 300,000 merchants and franchise locations having MasterCard PayPass provided with a licensing from the NFC system to Google for use in Google Wallet. At the moment there are two methods of money to service are announced one is the “Citi Mastercards” and the second method is “Google Prepaid Card” which can be easily loaded by using any credit card.
First impression of Google Wallet attracts a lot of folks because Google Wallet is announced with a lot of partners including many renowned foot chains, Grocery and household super marts and other merchants like McDonald’s, Subway, Jamba Juice, Bloomingdale, American Eagle Outfitters, RadioShack, Walgreens and The Container Store other well known merchants are Best Buy, 7-Eleven, Dairy Queen, Sports Authority, BP, Office Depot, and other retailers.
On the launch of Google Wallet major concern of the customers was about its security. The question arises regarding Wallet is that “Does it know who is shopping and making payments?” the answer at the moment is “No”. Google assured about the secure payments via Wallet. One looks at his Google Wallet history but at the moment by looking at the history one can see only a date, an amount and approximate location. According to Google in near future it is going to be a more digital receipt system for the payments, history etc. At the moment Google is Stay providing users with Google Wallet PIN and with secure underlying technology.
With the announcement of Google Wallet other competitors like AT&T, Verizon and T-Mobile have boosted up their investments and research efforts on their own mobile payment project. Concluding the first impression about Google Wallet we can say that giant company has brought new trends not only in the field of information and technology but also in the areas of banking and customer care.