Google Wallet Launches With $10 Credit

Following up on our digital wallet discussion yesterday, CWmike writes "Google officially launched its Google Wallet application today for NFC-ready Sprint Nexus S 4G phone users. The application launches initially for Citi MasterCard credit card holders, but Google also said today that Visa, Discover and American Express will be able to add their cards to future versions of Google Wallet. The application, first announced in May, was described in an official blog post. Visa said in a separate statement that it has licensed Google to use Visa's PayWave technology, used in 'hundreds of thousands' of terminals worldwide. But Visa didn't describe a timeline for when that function would be enabled. Google said it will allow users to add any bank card to a Google Prepaid Card and they will receive $10 to try the service." Reviews of the service are popping up, and many seem to say the same thing; when it works, it's great, but your real wallet isn't going anywhere.

Comments

So what does this actually do?

[Todd Knarr]

So, if my physical wallet isn't going anywhere because I still need it for all the cards, cash and stuff I need to carry that I can't put on my phone, and I still need actual cards for merchants who don't have the right tech at their registers, what exactly does Google Wallet do for me? I can't think of a time when I'd have my phone and wouldn't have my wallet on me, so it's not convenience. About all it seems to do is enable Google to watch what I purchase. Sorry, I'm going to need something of benefit to me first.

Re:So what does this actually do?

[Karganeth]

Yawn. It's clearly progress. Ideally everything in your wallet could be in your phone, so this is just a step towards that. It's not pointless, its progress.

Re:So what does this actually do?

[DogDude]

It's stupid. My wallet doesn't require a service agreement.

Re:So what does this actually do?

[tlhIngan]

Well, my wallet got stolen recently. So I've lost a couple hundreds of dollars, several bank cards, my driving license and several club cards. ...snip...

I won't mind replacing all those subway passes and loose change with NFC and an app on my phone. Sure, I'll lose some privacy - but it's not like I care much (Google already knows what I purchase and I also use Google Latitude). It won't replace my credit card and I'll keep some money just in case, but everything that helps to get rid of clutter is welcome.

Stupid question - and what happens when your PHONE is stolen? Or you left it behind? Or you dropped it?

So now you've lost your wallet and your phone. And now you're stuck because you have no cash, and no way to call for help.

That being said, I hope NFC enforces user confirmation. Walking around with a mobile NFC terminal, just like those RFID readers would be great fun...

Re:So what does this actually do?

[Hazel Bergeron]

No, you got up to 56 days' interest free credit, another liable party to guarantee seller performance, extended warranty, cashback, and the opportunity to make an otherwise unaffordable payment in an emergency at a not-insane rate of interest.

This is worth way more than $10. And credit cards are absolutely not a cash replacement - cash is still available if you want a degree of anonymity.

But what's most important is that Visa/Mastercard/Amex/banks' primary business isn't targeted advertising. They will have a lot of data spread across departments and competitors but they won't group together and trip over themselves to mine and track every last tiny thing out of you. Putting anything more in the Google basket is not wise.

Re:So what does this actually do?

[shutdown -p now]

What about your credit card in that wallet?

If Google were out of the equation, I'd use it.

[mTor]

I simply do not trust Google with anything personal and I will not use this service.

What's in your wallet?

[Anonymous Coward]

library card, NO
driver's license, NO
cash, NO
postage stamps, NO
receipt from store, NO
business cards, NO
employer-provided keycard, NO
foreign currency, NO
insurance card, NO
rolling papers, NO

So I do without all those things, and some more I didn't think of, and switch to electronic versions of credit cards and ... I guess just credit cards. Oh shit, my battery is down, I'm out of the service area, I got wet, I'm on an airplane, etc.

And not to mention, I don't do online banking because it's a huge security hole. And they charge more.

Re:Google lost my trust when I became an app user

[Anonymous Psychopath]

...and thus, a second rate citizen in google's eyes. To be clear, once I started PAYING for a google service, I lost functionality with a fuzzy promise date of "soon" ( for the past 6 months ).

I don't think I'll be jumping on board this particular bandwagon, thanks.

Complaining that beta-quality software isn't available on paid production systems seems a little odd.

Re:100's of thousands is not impressive

[aztracker1]

Well walmart, mcdonald's and the gas chains would account for a lot of spending in this country.