Nexus S

Google wants to replace your wallet with its Wallet (but you still pay)

May 27, 2011: 4:16 PM ET

Google new NFC-enabled services, Wallet and Offers, are ambitious, but getting all of the pieces to work together will be difficult.

FORTUNE -- At yesterday's Google Wallet/Offers launch event in New York, Google (GOOG) laid out a very compelling case for using NFC-enabled Android phones to make payments at physical merchants. The company trotted out launch partners including the Container Store, Subway, American Eagle Outfitters (AEO) and Walgreens (WAG).  On the backend, Google has enlisted heavy hitters MasterCard (MA), Citi (C) and First Data to manage the money and data flow. And Google's Wallet will also work at the thousands of existing Mastercard PayPass locations nationwide.

Google Point of sale locations

 Stephanie Tilenius, Google's VP of Commerce. Image Credit Seth Weintraub
In short, the whole ecosystem fits together extremely well except for one glaring omission: More

Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by VIP.