Google has announce a new wireless payment system called Google Wallet and Google Offers. They can work separately or together to make it easier to pay for things or to get shopping deals (not unlike Groupon).
“Our goal is to bring together all the pieces of the ecosystem. Your phone will be your wallet. Just tap, pay, and save,” said Google VP of commerce Stephanie Tilenius. “We believe 2011 and beyond will be the age of MoLo Mobile Local commerce.”
Google Offers will offer coupons for local businesses like daily deal sites that include Groupon and LivingSocial. It will send offers to those that check in for certain business and be tied to places, making it highly contextually aware.
Google Wallet stores credit card info, loyalty rewards, purchase points, and any saved-up Google Offers. Those who have NFC Android phones will be able to use their phones for electronic payment in order to enact many of those deals at stores like Macy’s, Subway, American Eagle, Jamba Juice, CVS, and Walgreens.
“We plan to aggressively enable everything a consumer would want to put in their wallet,” Google VP of payments Osama Bedier said.
Source: Ars Technica