Google announces Google Wallet

By • May 27th, 2011 • Category: Blog

Google has announced the impending release of Google Wallet, an Android application that will allow consumers to pay for goods through their Android devices. Google Wallet is set to be released first on Sprint Nexus S phones, which is one of the first phones to have the NFC chips required to run Google Wallet.

Google is the first smartphone vendor to do something like this. While there has been noise about moving credit cards and gift cards onto smartphones, Google Wallet is the first application that allows consumers to pay for goods with their smartphones. This is an exciting new feature that could develop into a lucrative segment of the smartphone market. There are a few barriers, such as the limited availability of Google Wallet to phones with NFC chips for the time being. Still, with Google set to be the first vendor with mobile wallet technology, we think that this will be the differentiator that can propel Google Android as the preeminent smartphone in the market.

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