Buy Online with Google Wallet via Smartphone
Google publicly launched their new Wallet and product offering on May 26. Google Wallet is a mobile payment system designed to make it simple and easy to buy things, get awards, and get instant discounts through your smartphone.
Wallets will powered by Google's offering, which is a direct challenge to Groupon. Offers will allow customers to get different coupons, deals, and other incentives from brands and retailers are directly applicable when paid through the Wallet.
Google believes both programs will dramatically speed up their mobile advertising revenue and ROI on some of their investment been made in the mobile space.
Google Wallet is a mobile application that replaces the physical credit card and loyalty. Google has used near-field communication (NFC) chip technology to enable consumers to simply "touch, pay, and save" through their smartphones to one of global 311 000 MasterCards' terminal "PayPass", which is installed in a variety of merchants ranging from Subway for Macys department store. Google does not create revenue from the actual credit card purchases. Their commercial model focused on the development of mobile advertising revenue by connecting them with a variety of mobile products and services to support the Wallet
