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Google Announces Major Push Into NFC Payments With Google Wallet

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Apr 12, 2001
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Google today unveiled its new Google Wallet initiative, a push into near field communications (NFC) that will allows users to make electronic payments with NFC-compatible hardware through the Google Wallet mobile app for Android.
Today in our New York City office, along with Citi, MasterCard, First Data and Sprint, we gave a demo of Google Wallet, an app that will make your phone your wallet. You'll be able to tap, pay and save using your phone and near field communication (NFC). We're field testing Google Wallet now and plan to release it soon.
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Google Wallet will be able to store users' credit card, loyalty card, and gift card information electronically, making it easy to access the payment and discount methods at compatible points-of-sale. The app will also coordinate with Google Offers, a new program allowing merchants to offer discounts redeemable through NFC or barcode scanning.

Initial support for Google Wallet NFC payments comes from MasterCard, which will accept payment at hundreds of thousands of existing PayPass terminals. Google is also rolling out its own virtual "Google Prepaid Card", which can be funded by any major credit card. Google Prepaid Card comes with an initial $10 sign-up bonus, and there will be no fees on transactions to top up the card until at least the end of 2011.

Hardware support for Google Wallet will appear on the Nexus S 4G phone running on Sprint's network, but other compatible handsets will be added over time.

Rumors have gone back and forth over whether Apple will be adding NFC capabilities to the next-generation iPhone, with the general feeling currently being that Apple will add NFC to future iPhone models, but not necessarily for the next generation expected to be introduced later this year.

Article Link: Google Announces Major Push Into NFC Payments With Google Wallet
 
Article Link
https://www.macrumors.com/2011/05/26/google-announces-major-push-into-nfc-payments-with-google-wallet/
Love it. Wallets, cash, credit cards, etc. are far past antiquated.
 
If I lost my phone, how quickly can I remotely disable this service? Also, most vendors still lack NFC capabilities and I would still need to keep plastic around if I wanted to pay with credit.

I like the idea a lot, though.
 
....and there will be no fees on transactions to top up the card until at least the end of 2011.
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Pay attention here. This is where you'll get pinched. Can you say convenience fee? Expect to see bank fees, credit card fees and carrier fees attached to these NFC purchases in the future. Everyone is going to want a piece of that pie!
 
As long as its secure, I welcome the day when I don't have to carry a wallet around or print any documents (e.g. boarding passes). I keep my phone pin locked, so it would already be more secure than someone getting my wallet. Hopefully any fees attached wouldn't be too exorbitant.
 
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Hurry Apple. Google will screw this up. And Visa and MC have sat idle for years while fraud has grown. They deserve to b toppled.
 
JilzVT said:
Love it. Wallets, cash, credit cards, etc. are far past antiquated.
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I think it is cool, but there are still some things that would keep me from using it all the time (Other than the fact that the retailers have to support it...)

One is your phone battery. I charge it pretty much every night, but sometimes I forget to plug it in and it dies on the second day. If I only had a an e-wallet I wouldn't be able to put gas in my car.

Add that to the fact that I still have to carry around my drivers license, business cards and a little cash I don't think my real wallet is going anywhere. Maybe just getting a little smaller.
 
Potential problems?

Don't really know how I feel about this. Yes, it will increase convenience, but it will also spawn a new kind of thief - one who puts an NFC receiver in his pocket, brushes up against your pocket with your cell phone in it, and steals your money without having to pickpocket you. A wireless robber.

Also, if you lose your phone like I often do, does that mean that people who pick it up can use it as a limitless credit card? Sounds scary.
 
skellener said:
Pay attention here. This is where you'll get pinched. Can you say convenience fee? Expect to see bank fees, credit card fees and carrier fees attached to these NFC purchases in the future. Everyone is going to want a piece of that pie!
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This is in relation to the Google Prepaid Card. It is no different than the Greendot card, Rush card, or whatever other stupid pre-paid credit cards are out there.

It is not in relation to NFC, which has its fees covered by the merchant, not the customer. Again, no different than any other credit card.
 
This is great as long as we can do one thing.

Can we transfer money between phones?
That way we won't need cash really, if I can come round your home and you can sell me your old TV, and I can move $500 from my phone onto your phone then it's a winner.
 
Azadre said:
If I lost my phone, how quickly can I remotely disable this service? Also, most vendors still lack NFC capabilities and I would still need to keep plastic around if I wanted to pay with credit.

I like the idea a lot, though.
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You need to enter a pin to use it. Also, you would just call your credit card company and cancel it, or probably online you could deactivate it from your phone
 
darkslayer13 said:
Don't really know how I feel about this. Yes, it will increase convenience, but it will also spawn a new kind of thief - one who puts an NFC receiver in his pocket, brushes up against your pocket with your cell phone in it, and steals your money without having to pickpocket you. A wireless robber.

Also, if you lose your phone like I often do, does that mean that people who pick it up can use it as a limitless credit card? Sounds scary.
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Probably the implementation will require you to open an APP. So, it can't be scanned nor can send details if the app is not running.
 
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Looking forward to see how this works out. Samsung and Orange in the UK are doing NFC payment trials right now I think.

Could be handy carrying around "one less thing"! ;)
 
Apparently Mr. Camping blames the delay of the rapture on the slow implementation of NFC.

I think this NFC thing will not make waves in terms of getting people to buy phones and tablets. But it will slowly be embraced and appreciated over time.
 
toddybody said:
Sounds cool...but too Orwellian for me. Ill keep my wallet, thanks
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Agreed. I especially like the point where they knew exactly where you are at all times. I would be ok if there was NFC from say a stand and your phone picked up on it, but then I would be walking around with my phone on all the time looking at that instead of where i was going. If it used location based stuff via cell towers like everything does today, I say i'll pass.

As for the theft part, I think this would help curve it towards a positive (as in good) direction. Unlike the PayPass cards implemented now, it is not activated until POS or when you tell it to turn on. The ones right now embedded in your wallet are always on.
 
Great.
Now Google can track and sell data related to whatever I am purchasing.

Looks like Apple gets beaten to the market again in a market where the first major player is bound to set the standard.
 
darkslayer13 said:
Don't really know how I feel about this. Yes, it will increase convenience, but it will also spawn a new kind of thief - one who puts an NFC receiver in his pocket, brushes up against your pocket with your cell phone in it, and steals your money without having to pickpocket you. A wireless robber.

Also, if you lose your phone like I often do, does that mean that people who pick it up can use it as a limitless credit card? Sounds scary.
Click to expand...

They've mentioned at the event that the chip is disabled while the phone is locked and requires a payment to be activated by the user. The only time someone could use an NFC receiver to make transfers without you knowing is while you're using it, when you should be aware of who has a receiver near you.
 
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