Monday, September 19, 2011

Google Wallet officially launched

In May, Google announced Google Wallet—an app that makes your phone your wallet—with Citi, MasterCard, Sprint and First Data. Google Wallet allows you to tap, pay and save using your phone and near field communication (NFC), a wireless technology that sends data between two objects when they’re in very close proximity of each other.

As expected, Google has formally announced the first rollout of Google Wallet — the company’s first official entry into the growing mobile payments space.

But Wallet is only taking a baby step today. Google says the app is only being made available to Sprint Nexus S 4G phones, and users will be able to pay with a Citi Mastercard and/or a Google Prepaid Card (which can be funded via any credit card). As Greg Sterling pointed out earlier today, today’s Google Wallet launch is largely symbolic due to its extremely limited availability.
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