Google Wallet is a mobile payment system developed by Google that allows its users to store credit cards, loyalty cards, and gift cards among other things, as well as redeeming sales promotions on their mobile phone. Google Wallet uses near field communication to "make secure payments fast and convenient by simply tapping the phone on any PayPass-enabled terminal at checkout."
Google demonstrated the app at a press conference on May 26, 2011. The app will only be available for the Sprint Nexus S 4G although Google plans to develop the app for more phones.
The service will work with over 300,000 MasterCard PayPass merchant locations.
AvailabilityInitially, the only phone supported will be Sprint's Nexus S 4G, but Google plans to produce NFC stickers associated with one credit card each, ostensibly to be affixed to non-NFC-capable phones. Two methods for providing money to the service are advertised, Citi Mastercards and "Google Prepaid Card", which can be loaded using any major credit card. During Google's Wallet unveiling at NYC headquarters, Google also touted the openness of their new system. Naturally, someone asked about what this meant for non-Android phones. “In terms of iPhone, RIM, Microsoft......