Google unveils pay-by-phone system, partners with Sprint

Reuters

Google Inc (Mountain View CA) and four bank and telecommunications partners on Thursday unveiled "Google Wallet," taking U.S. shoppers a step closer to paying by waving their mobile phones at the checkout counter.

The Internet search company's system that lets people pay with phones instead of cards, hoping to win a race against major rivals including Visa, top U.S. banks and mobile network operators.

Google, Mastercard (Purchase, N.Y.), Citigroup (New York, N.Y.), First Data (Atlanta, Ga.) and Sprint (Overland Park, Kansas) will make the service available this summer to people in New York and San Francisco, Google and its partners said on Thursday. Sprint is the first carrier to launch the Google Wallet, and will deploy the service first on the Nexus S 4G smartphone.

According to its press release, VeriFone is also partnering with Google by providing “merchants with flexibility and easy migration to Google Wallet and the ability to leverage NFC to increase sales and customer loyalty through multi-application, interactive systems.”

Designed to work as an app on Android phones, Google Wallet uses MasterCard's "PayPass" technology, which lets shoppers tap cards for payment. Google has signed up retailers including Macy's Inc, American Eagle Outfitters Inc and Subway to blend the service with loyalty programs and discount offers.

Shoppers abroad, especially in Asia, can pay for things by waving their phones at check-out. In the United States, mobile wallets still face hurdles, but since last year, some large companies have raced to make the technology a reality.

Citigroup Mastercard holders with PayPass-enabled cards will get first crack at Google's service. The Internet giant also plans to sell a virtual prepaid card.
Visa Inc has tested a pay-by-phone system with several large banks, including Bank of America Corp and Wells Fargo & Co. The world's largest credit and debit card processing network has said it plans to make its mobile payments system commercially available this year.

(Reporting by Maria Aspan and Jennifer Saba. Editing by Robert MacMillan)

ArticleTools

Featured Big Data Reports

Market Opportunity: Big Data in the Internet of Things
Big Data and Analytics software and applications will play a crucial role in making IoT a success. The data generated through sensors embedded in various things/objects will generate massive amounts of unstructured (big) data on real-time basis that holds the promise for intelligence and insights for dramatically improved decision processes.

 

Structured and Unstructured (Big) Data in Telecom Analytics
This report provides the reader with a broad understanding of telecom data (structured and unstructured/big data) and related analytics. The report identifies market drivers and opportunities as well as forecasts for certain key growth areas such as deep packet inspection.

 

Telecom Carrier Big Data Operations, Applications, and Services
Telcos have a major advantage in that they have many sources of data but if they want to monetize that data and derive meaningful, actionable analytics it could be challenging due to the complexities of correlation, prediction, and the massive volumes of data from different sources.

 

Affordable Market Reports on Big Data, IoT, CDN & More!
Access the exclusive new series of market research reports brought to you through the partnership of Mind Commerce research and TelecomEngine.com.
Browse the latest titles

 

 

 

Featured Events & Partners

The Telecom Exchange (TEX)
Wednesday, June 24, 2015

Cipriani Wall Street, New York City

Designed to navigate enterprise and carrier network operators through all carrier hotels and colocation houses available in the US and globally.

Visit event website...