Discussion Google Wallet

[Evolved]

This looks amazing, only thing though it supports new androids.

Official Link

Google Wallet Just launched for Sprint:

We’ve been testing it extensively, and today we’re releasing the first version of the app to Sprint. That means we’re beginning to roll out Google Wallet to all Sprint Nexus S 4G phones through an over-the-air update—just look for the “Wallet” app. Here’s a demo of Google Wallet in action:

http://www.youtube.com/watch?v=DsaJMhcLm_A&feature=player_embedded

Source

There are only a handful of merchant and retail partners and only one handset currently NFC-enabled: the Sprint Nexus S (although you can affix a sticker to your phone that makes it NFC-capable.) Future Android handsets will also embed an NFC chip.

The limited availability of Google Wallet makes the launch largely symbolic in many respects. But because of Google’s brand clout and visibility mobile payments are now on the radar. And intensifying competition guarantees innovation will continue to happen.

Indeed, beyond Google there numerous other competitors in the segment: Visa, Amex, Intuit, PayPal, wireless carriers, Square and others. Not all of these competitors are pushing NFC; Square and PayPal for example have NFC-free products. It remains to be seen whether and how quickly NFC takes hold. It probably eventually will but adoption may prove slower than Google and others hope.

Changing consumer behavior could prove challenging in the near term. Using plastic cards is comfortable and familiar to most people and many users will seen no reason to alter their behavior, unless there are deals or other incentives to get them to adopt mobile payments. There are also some consumer security fears, but NFC payments are in fact more secure than current plastic payments.

Regardless of these barriers, with today’s anticipated launch of Google Wallet (as I said previously), the era of mobile payments has arrived in the US.

The ultimate prize, from Google’s point of view, is a closed loop transaction that yields actionable data for marketers. This represents a kind of “holy grail” for marketing analytics: tracking online to an actual offline transaction. (Calls are a surrogate for offline transactions.)

Here’s the now widely viewed ad for Google Wallet featuring Jason Alexander as Seinfeld’s George Costanza (and his infamous overstuffed wallet). Especially if you’re familiar with the series and the joke, it’s a great product promotion. Strangely it was originally released in August but only recently noticed by people.

http://www.youtube.com/watch?v=gKGptWtzeaU&feature=player_embedded

Source

 

[Buzz Lightyear]

Holy crap that is amazing! Their security must be top-notch if they have invested their time and money into something like this.

 

[OctaVariuM]

Well, this is quite the advancement. As nice as it will be for us to take advantage of, I think the real win here is for the marketing companies. I am sure they were fully backing this, as getting real time information is exactly what they have been looking for.

This is also excellent for android phones, as it shows exactly what they are capable of.

 

[Ned]

This looks badass. I may check this one out.

 

[Virus Dejected]

I would buy that. Looks cool

 

[Davess]

That looks nice. Just nice.

-Davess

 

[Evolved]

Holy crap that is amazing! Their security must be top-notch if they have invested their time and money into something like this.

Yea it is, technology is so advanced it's incredible.

Updated with Sprint News

 

[Marino HD]

As much as this idea sounds cool, I would never link my bank account straight to my phone, too much risk involved.

 

[Chazay]

I cant wait for the future.

 

[michael1026]

What about cash......

 

[mlgmoose]

Look's legit.

 

[Evolved]

I cant wait for the future.

yea same, but the bad thing is that our info will be everywhere

 

[Chazay]

yea same, but the bad thing is that our info will be everywhere

#cloudfails

 

[Psych0t1cSupp3r]

Am I the only one that sees huge security risks here? NFC has never been secure, and this won't change it. This is scary, not a good thing.

 

[12ice]

What about if you lose your phone, Yes it has a pin, but what stops the person rooting your phone and potentially finding an overide, Too much risk for me, I prefer hard cash to even credit cards.