Google Wallet Gets Visa And MasterCard Into Its Fold

September 20th, 2011 at 1:31 pm
 


With NFC payments systems being hailed as the future means of paying for items, the technology has certainly grown and showing such promise. It is a technology that allows mobile phone users to conveniently use their mobile phones embedded with NFC chips to purchase and pay for items and goods. Its bright future may be the reason that Google has made itself as one of its players with the introduction of the Google Wallet. And now, Google Wallet may be moving in leaps and bounds as it has gotten both Visa and MasterCard to join in on its new system of payment.

Visa Europe recently announced recently that it is integrating Google Wallet into its payWave NFC-based payment technology, having provided Google with a worldwide license to use it on Google Wallet. This announcement comes a week after MasterCard demonstrated its own version a week ago at an event using the Google Wallet app.

The partnership may just help boost the implementation of Google Wallet as a premier NFC-based payment system in the near future. It makes such a complementary partnership for the companies involved. The two credit card companies are trying to find the means to spread their own mobile payment systems to the public.

By partnering up with Google and its Google Wallet app, the two credit card companies have found the best means available. Google Wallet may easily be made available in Android phones, the OS of which also belongs to Google, although with it being known as open source. Now it will only take the manufacture of more smartphones with built-in NFC chips to get the mobile payment system into gear. It looks like a win-win situation for the three different parties. But then, there is still the question of its implementation and on whether consumers are already ready for such changes in the way they pay for their purchases. But the first steps have already been taken. The next ones will be just as crucial.

 

Tags: , , , ,