Googles nfc payment unveiled

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Cashizslick

!i!i!i!i!i!i!i!i!i!i!i!
I have no doubt this will be the next cool "thing" and will catch on with the smartphone crowd, but what I just dont understand how this is any more convenient than having a credit card. You still have to take something out of your pocket in order to pay, and if you lose your phone you are screwed, both socially and financially.

Google unveils mobile payments, coupon service | Circuit Breaker - CNET News

Google today introduced Google Wallet and Google Offers at an event in New York City..

The company says it plans to bring all parts of the retail experience together to make "tomorrow's best shopping experience," said Google Vice President of Commerce for Stephanie Tilenius.

The services will combine coupons and discounts and payments at the time people buy things through their phone.

Together the services will work like this: Coupons for items you buy regularly will pop up on your phone, or an item that the store you're shopping at is out of will pop up on the phone and let you buy that item online. When you go to a store's cashier, you can wave your phone over a terminal, which will charge your card. Meanwhile your loyalty points with that merchant will be added to your phone. Eventually receipts will be delivered to your phone.

The first phone that will be able to do this is the Android-based Nexus S, which has an NFC chip made by NXP inside. It can make payments via MasterCard's PayPass system. The system uses NFC, or near-field communication, technology. NFC is a chip technology that, when placed in two different devices, lets small amounts of data be sent over very short distances between them. This can include data such as credit card information, train ticket info, and a coupon bar code. All future Android phones will contain NFC chips, Google said today.

Google flashes e-wallet


Google Wallet won't be out until this summer officially, but in the meantime there will be some local trials in San Francisco and New York City before expanding to more cities. The first participating retailers will be Macy's, Subway, Walgreens, Toys "R" Us, Bloomingdale's, Guess, and Noah's Bagels. For the payments service, Google is partnering with Sprint, MasterCard, Citi, and FirstData.

Google Wallet will support multiple cards, Citi and Mastercard, and a prepaid card funded from any credit card. More card brands will be coming, according to Telenius. Google says loading a card on a phone will be more secure than a physical wallet thanks to a smartphone's password and encryption on the phone.

Google also introduced Google Offers, a daily deals service that will be delivered to customers in an e-mail or to a phone. Like the payment system, to redeem these coupons a customer can show the cashier at a store or tap their phone to pay. Google Offers will begin trials in San Francisco and New York this summer.

American Eagle is one of the first retailers that will support Google Offers.

Eventually boarding passes, tickets, and more will come to the Google Wallet.

These are "the first steps," Tilenius stressed. "This vision will take a while to come to fruition."
 
Google is scary. Just when you think they already know everything about you they look for something else.
 
Great, the cost of goods will now go up because everyone is using coupons and getting discounts. Companies will have to make up for it somehow.
 
so what you are saying is that skynet is going to start printing its own money?
 
was just gonna post that^^^^… saw it on the news last night
 
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