Google had a press conference in New Yorck City in May 26th (today) and have unveiled a new service that they are already testing. Called Google Wallet, which works in tandem with Google Offers. Google Wallet is Google's way of making use of those NFC chips found inside new smartphones today, like the Nexus S. How it works? Well, basically it makes your phone your wallet.
Google Wallet will be an app in your Android smartphone that has an NFC chip in it. According to Google, at first, it will be able to support both Citi Mastercard and a Google prepaid card. Confused? Well, you need to load up your Google Wallet with money so that you can use that amount of money for your payment transactions with partner establishments.
They are currently testing Google Wallet and those NFC stuff and plans to launch the service "soon"."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."
For more info about the new services head over to the Google Walllet webpage.
Source: Google
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