Improvements to Google Wallet Including Person to Person Payments Might Be Coming Soon
Google Wallet allows your phone to act as your credit card byy tapping your NFC enabled Android phone against a compatible card reader available in select retailers. Your payment credentials are then transferred to the merchant without any swiping or physical cards required. Over the last few weeks the Google Wallet service has seen many improvements and it is rumored the best are still to come.
Following a little Google Wallet Q & A session with their head product manager Robin Dua, a few interesting details concerning the future of Google Wallet managed to catch everyone’s attention. The mention of person to person payments as a future implementation is one of the features meant to get us all excited. This new implementation could compete directly with Square mobile payments and even Paypal. To enable this new feature Google must also focus on privacy and security for the next quarter till the actual implementation.
Another interesting fact about Google Wallet surfaced when apparently a viewer asked a question regarding the lack of penetration and why Wallet was only supported on a small number of carriers. Robin Dua responded that Google is in “active negotiations with a number of carriers,” and that he “hoped to have new partnerships to announce soon.” With only one major Network officially supporting Google Wallet it is nice to see them planing for expansion. We expect more official announcements to be available soon.