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Google announces Wallet and Offers, aims to reinvent the wallet

8:22 PM  psychomaniacs  No comments

Today Google pulled the wraps off its two new services set to change the way we shop. Google Wallet and Google Offers are said to be the next big thing in commerce, making your ordinary wallet obsolete in a few years time as the programs gain the needed momentum.

Google Wallet is a key part of our ongoing effort to improve shopping for both businesses and consumers. It’s aimed at making it easier for you to pay for and save on the goods you want, while giving merchants more ways to offer coupons and loyalty programs to customers, as well as bridging the gap between online and offline commerce.

Because Google Wallet is a mobile app, it will do more than a regular wallet ever could. You'll be able to store your credit cards, offers, loyalty cards and gift cards, but without the bulk. When you tap to pay, your phone will also automatically redeem offers and earn loyalty points for you. Someday, even things like boarding passes, tickets, ID and keys could be stored in Google Wallet.

Google is certain the Wallet application will be used not only for purchasing consumer goods, but also for getting tickets, boarding passes, storing IDs, keys and basically everything your ordinary wallet can hold.

At first, Google Wallet will support both Citi MasterCard and a Google Prepaid Card, which you’ll be able to fund with almost any payment card. From the outset, you’ll be able to tap your phone to pay wherever MasterCard PayPass is accepted. Google Wallet will also sync your Google Offers, which you’ll be able to redeem via NFC at participating SingleTap™ merchants, or by showing the barcode as you check out. Many merchants are working to integrate their offers and loyalty programs with Google Wallet.

While both services will be in a testing period for the next couple of months, Google is certain to expand the coverage area of both Wallet and Offers fast. And finally, take a look at this video, in which the first batch of merchants supporting Google Wallet share their thoughts.

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