Google Wallet Indeed a Reality

A few hours after we reported about the possibility of a “Google Wallet” NFC payment system, Google has confirmed its existence in not just one, but two services. Google has partnered with Mastercard, Sprint, and Groupon to let customers pay and receive coupons on the go using their smartphones.

The Google Wallet payment service will be available first on Sprint’s Nexus S handset and later on other smartphones (whether it would cover non-Android phones is still a mystery). The service will initially cover San Francisco and New York this summer.

Meanwhile, Google Offers is integrated with the Google Wallet and provides coupons and discounts featured on daily deal site It will be available in the same markets, as well as in Portland, Oregon. Both services will be free to consumers, with Google garnering its profit from advertisements.

Now that Google has thrown itself into the ring, expect other companies to come up with its own mobile payment services such as Isis by Apple and AT&T.

Source: Bloomberg

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