Google has had a fairly rough time convincing consumers to use Wallet for in-store purchases. However, with the recent acquisition of Softcard's "technology" alongside plans to preload Wallet on Android phones from most major US carriers, Google is putting its weight behind a renewed effort to be a major player at brick-and-mortar locations. Amidst rumors that Google still has something else to announce at I/O, Ars Technica received a tip that a brand new payment platform called Android Pay will be announced at the conference.
According to the source, Android Pay is specifically geared for mobile devices and allows 3rd-party apps to drive both virtual and real-world purchases through a single interface. Read More
Well, we knew it was a possibility, and given Google Wallet's painfully slow adoption rate (by carriers and payment processors), rumors today from NFCTimes that the service's sole remaining partner Sprint is coming up with an alternative aren't exactly surprising.
NFCTimes says the service will be called "Touch," and will utilize a "secure element" system like Wallet (a physical chip) in order to securely process mobile payments. Likely by necessity, this would mean the end of support for Google Wallet on Sprint handsets released after the launch of the new "Touch" service. Two embedded payment systems would be confusing to average consumers, and Sprint will have much more control over its own service (as well as revenue from it), as compared to no control with Google Wallet - undoubtedly something it wants. Read More
Mobile payment providers. Yeah, I'm already getting a little sleepy thinking about them, too. Let's face it, they're not the most exciting topic in the world, but whenever we talk about how people spend their money, you know there are lots of companies out there eagerly eying the potential of various new payment technologies with great interest. Among such companies are cell phone carriers, and the reason why should be obvious: smartphones with NFC are ideal platforms for next-generation payment systems.
We know Google has already figured this out. Wallet was launched back in September of 2011, though only on the Sprint Nexus S 4G, and only with MasterCard as a launch partner. Read More