Google Wallet, the revolutionary new age mobile payment system offered by Google, is expected to be there soon. The search engine player has announced the release of the first version of this cutting edge technology to all Sprint Nexus S 4G phones.
As of now Sprint Nexus S 4G is the only NFC compatible handset. However, there are indications that the future Android handsets will also go for the NFC chip, while the other handsets will get them tuned with Google Wallet through NFC-enabled stickers.
Google Wallet is poised to make the payment procedure smooth. It will help the user to organize gift cards, credit cards and loyalty programmes on his phone, thereby enabling him to make quick payment for purchases. The user only has to tap his phone on an enabled payment terminal. The technology that will be used is that of 'Near Field Communication' (NFC).
While using Google Wallet you can pay through Citi MasterCard credit card and Google Prepaid Card. The same can be funded with any plastic credit cards that you are using as of now.
By the way, Visa, Discover and American Express also seek their cards to be enabled to be compatible with the future versions of Google Wallet. In fact they have already made their NFC specifications available.
Initially Google Wallet will be available with only a limited number of retailers, such as Bloomingdales, American Eagle, Sports Authority, Macys, Walgreens, Subway, and many of MasterCard PayPass enabled merchants.
Another key appeal of Google Wallet is that NFC handsets are better than plastic credit cards in terms of security.