Wednesday, September 21, 2011

Google Wallet Launches

On Sept. 19, 2011, Google launched its mobile wallet system, called Google Wallet. Some refer to it as a mobile payment system, and Google Wallet does support use of near field communications and "tapping to pay" from the mobile phone. But Google makes no money from providing that functionality working with the existing card issuers and clearing networks for the payment function.

To the extent Google Wallet can create a revenue stream, it will come from other features, likely including advertising, offers, loyalty tie-ins and other marketing and promotion capabilities. Many observers will note that it is too early to predict who the "winners" will be in the payment or wallet spaces. Google faces Isis, the consortium of AT&T, Verizon Wireless and T-Mobile USA, plus PayPal and a host of others.

But all the contestants face the challenge of creating a value proposition strong enough to drive robust adoption by consumers and retailers.
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