In a world where time is everything and human activities are fast paced, every second saved can make a huge impact when invested in other valuable venture that require more time. The idea for a cashless society was conceived to reduce the use of raw cash in the transaction of businesses and for payment of goods and service. This led to the creation of the card payment system – the birth of cards like Visa, Master Card and other like cards that are applicable as online transaction solution. Technology is today the backbone e-commerce, providing interfaces between online and offline commerce using the above-mentioned solutions to. Thus to book for a flight or pay for a hotel accommodation rather than go queue in a bank or carry large sum of money to the service premises all one need do is to just login to his internet banking portal or use his card if the service provider has in place a payment portal where you can use your card as it were.
Your new wallet?
Google has gone another step forward in its quest to build an “open commerce ecosystem” with its new idea, Google Wallet. On May 26, 2011 Google in collaboration with Citi, MasterCard, First Data and Sprint gave a Demo of Google Wallet in its field test. According to the founding engineers on Google Wallet, Rob Behren and Jonathan Wall, the soon to be released app is a key part of Google’s effort to improve the shopping experience of both shoppers and businesses.
Google Wallet provides consumers an easier way for making payment and saving on any product they want on one hand while giving merchants added ways to offer coupons and loyalty programmes to their esteemed customers as it were. With Google Wallet it means you don’t require your laptop to access the internet with regard to transacting any transaction when you have you phone right in your palm! Thus Google Wallet will bridge the gap between offline and online businesses, doing, as an app, far more than your regular wallet can.
Google Wallet when finally launched will give you the opportunity to store your credit cards, offers, gift cards and loyalty cards thus reducing what you carry about in your pockets – like shedding extra weight right? What’s more? Once you tap to pay for products or services your phone will automatically redeem offers on offer from the merchant and earn loyalty points for you. The brains behind Google Wallet hope that someday you will even be able to store things like your keys, ID’s, tickets and boarding passes all in your Google Wallet.
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| Picture by Google official Blog |
When launched, at first Google Wallet will support both Google Prepaid Cards and Citi MasterCard. I know you might be wondering, oh my God! Am left out… Don’t worry; you can fund your Google Prepaid Card using almost any other card. Isn’t that welcome? According to the founding engineers of Google Wallet from the outset you will be able to tap your phone to pay wherever MasterCard Paypass is accepted. The application will also synchronize your google Offers which you can then proceed to redeem through Near Field Communication (NFC) at participating Singe Tap™ merchants or by showing the barcode on check out. Another good news is that many merchants aware of the mutual benefit of Google Wallet are working to integrate their offers and loyalty programmes with Google Wallet. In this respect the Google Wallet App team is working to develop interfaces that will enable integration with numerous partners.
It’s said, “Charity begins at home”. Thus Google Wallet will be compatible with the Nexus S 4G phone available on sprint while the apps developers work towards making it compatible with other phones. Keep an eye on this blog for future development as they unfold with regards to your mini but mighty wallet, Google Wallet.
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