Money has only seen three different major phases: coin, paper, and then plastic. Google is now at the forefront of pushing money to the fourth phase: mobile. Mobile? Yes mobile, with the help of near field communication (NFC) technology integrated in the Nexus S 4G available on Sprint, Google’s vision aims to eliminate the traditional wallet all together.
Replacing the wallet means having all cards, including loyalty, gift, and coupon cards that people carry in their wallets, readily available to make purchases, get discounts, and redeem loyalty points through Google wallet. For a list of other phones and up-and-coming products that are NFC equipped click here.
Making Google’s vision a reality is aided with the partnerships of Fist Data, Sprint, Citi, and Mastercard, among others. Google is currently working with other financial organizations to make all card providers available on Google Wallet. NFC is a lot like a contactless payment card, but included in your phone. It also acts like Bluetooth but used at a closer range. By touching two devices together, either mobile-to-mobile or mobile-to-NFC smart tag the device can collect information. Read On