At a press conference in there is a New York Times, Google officially announced Google Wallet, a near-field communication platform open and Google offer, program of a deal that will work with the portfolio of Google. In partnership with Mastercard, First Data, Sprint, Citi Bank, Google plans to let you take everything in your wallet and move it to your phone with an easy to use application. The goal is for all credit cards, store loyalty programs and coupons to finally be compatible with the Google portfolio system, which allows you to exploit your phone to pay spot to complete a transactionas well as the technology of MasterCard PayPass, which has been used for some years now. Technology platform will be open for RIM, Apple and other competitors to use, as long as they chips NFC integrate their phones.
Field trial will begin testing in New York and San Francisco (and Portland for Google offer), and should run everywhere this summer. The only currently equipped Android phone of the NFC chip necessary to use this technology is the Samsung Nexus S, but most of the upcoming Android phones will integrate allegedly chip. According to Google, more than 120,000 U.S. merchant sites are already equipped with begin to use this technology.
Retailers such as Subway, Walgreens of Macy, Toys R Us, and Noah Bagels have already signed on board. The portfolio supports the encryption of credit cards, cards of fidelity multiple store and uses passwords, multiple, physical proximity, and many other "special sauce" to ensure that the process is actually safer and more secure than any other digital payment system. Google says that it is actually more secure than having a real portfolio. Of course, a real portfolio is not run low on batteries.
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