Back in May Google announced Google Wallet, the company’s efforts to try and change the payments industry.
While Google is certainly not alone in its endeavors to revolutionize mobile payments (PayPal’s even suing them), they do have a number of advantages that can help them in their quest to turn this into a mainstream payment method. Simply see the company’s product list. That includes a mobile operating system and a pending acquisition of a phone manufacturer in Motorola mobility.
Citi, MasterCard, Sprint and First Data were announced as initial partners. "We’ve been testing it extensively, and…we’re releasing the first version of the app to Sprint," said Google VP of Payments Osama Bedier. "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."
"Google Wallet enables you to pay with your Citi MasterCard credit card and the Google Prepaid Card, which can be funded with any of your existing plastic credit cards," he said. "As a thanks to early adopters, we’re adding a $10 free bonus to the Google Prepaid Card if you set it up in Google Wallet before the end of the year."
"When we announced Google Wallet, we pledged a commitment to an open commerce ecosystem. We appreciate Citi and MasterCard for being our launch partners," he added. "And today, Visa, Discover and American Express have made available their NFC specifications that could enable their cards to be added to future versions of Google Wallet."
On WebProNews, after the original announcement, we put together a list of 43 things you should know about Google Wallet. Check that out here.