Web Giant Debuts Mobile Payment System Google Wallet

[webfact]

Web giant debuts mobile payment system Google Wallet

San Francisco - Google introduced its new mobile payments system Monday, allowing people to pay for purchases simply by waving their smartphones at the cash register.

The Google Wallet stores people's credit card information, coupons and discount cards on smartphones using Google's Android operating system, currently the world's most popular platform on the devices.

For now the Google Wallet only works with Google's Nexus 4G phone over the Sprint network in the United States, and via an agreement with Mastercard.

But phones that include the Near Field Communications chip that the system uses are expected to hit the mainstream next year, when Google Wallet could quickly become a viable alternative to credit cards

-- The Nation 2011-09-20

[kmj]

More data mining for Google...

[nikster]

Google is the last company on earth I'd trust my financial data with... pshhht.

The core of the problem is Google's business model: You are not Google's customer. You are the product that Google sells to its customers. Google gives you things for free - in return, it makes money off of selling your information to advertisers. Even if you are aware of that, you have no idea what is being sold to who and when.

I'd much rather pay for a product or service, and not deal with this BS.

[BlackJack]

I am an investor and from my research this system will take off for many reasons.

ie in poorer countries where people do not have bank accounts but have mobile phones it is easy for them to transfer money via SMS or NFT. THis is just one example. Another is going through tolls, BTS, bus, etc. Knowing Thais they would just want to show off by having it.

Even if your not going to use it there are millions of people waiting to use it and this is worth investing in

Does anyone know the system that TRUE or AIS uses?