Google unveils digital ‘wallet’ for phones

Google has joined the race to offer consumers the chance to leave their wallet at home and instead use their mobile phone to make payments.At a joint press conference at its New York offices, Google, Citibank and Mastercard on Thursday unveiled plans to turn the company’s Android mobile handset phone into Google Wallet, complete with an app that lets users make “wave and pay” purchases in stores. see:Google Unveils App for Paying With Phone
Google is among the first out of the gate in the attempt to make leather wallets go the way of the typewriter.On Thursday, the technology giant introduced Google Wallet, a mobile application that will allow consumers to wave their cellphones at a retailer’s terminal to make a payment instead of using a credit card. The app, for the Android operating system, will also enable users to redeem special coupons and earn loyalty points. Unveils Smartphone ‘Wallet’
Google Inc. showed off its plans to create a digital wallet that will allow consumers with Android smartphones to pay for goods and services or receive coupons and offers by waving the device in front of a special reader at the checkout counter.The Web search giant took the wraps off Google Wallet and Google Offers, which will launch in the summer. The platform is powered by a technology called near-field communication, or NFC, which is compatible with newer point-of-sale terminals.

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