Google Wallet provides an open platform to do payments and offers at Point-of-sale. Your phone becomes your wallet and when you are at a retail store you simply tap pay and save. Google claims that everything in your wallet will eventually be able to be stored within your phone, yes even your license.
E-Commerce is growing like crazy. In the United States E-Commerce has surpassed $227 billion in 2010 and is poised to succeed $1 trillion in 2013. Since Amazon and eBay in the mid 90’s, nearly every branded experience has invested to come online to provide an E-Commerce Storefront.
Consumer attitudes towards electronic banking, payments and E-Commerce have drastically changed. 10 years ago 70% would never shop online, now 70% use the Internet to access their credit card account on the Internet.
While consumer opinion has evolved, still only 8% of Retail is online. 92% of retail is done via brick and mortar locations. This evidence shows that the shopping experience has not yet been transformed by technology. With NFC (Near Field Communication) payments, Smart-phones and Geo-targeting technology, a New era of Commerce is approaching where we bring online and offline together.
Google Wallet is set to launch sometime this summer in San Francisco and New York with other cities coming later in the year. To learn much more behind the payment system that will be changing the way your buy watch the Google Wallet Product Launch Presentation below:
Google reveals its latest commerce innovations in this very informative presentation:
For more on Google Offers check out this article.
LAPTOP Magazine gets a demonstration of the new Google Wallet payment system:
Here are some Video testimonials from Google Wallet partners: Macy’s, Subway, Walgreens, American Eagle Outfitters and The Container Store in this Promotional Video by Google.