Visa has announced that it will license its payWave contactless payment technology to Google for its mobile payments and loyalty service, Google Wallet.
The agreement sets the stage for banks worldwide to enable Visa account holders to add their credit, debit and prepaid accounts to Google Wallet - a mobile app that lets NFC-enabled smart phones carry payment and loyalty cards, digital coupons, tickets and more.
As an open commerce ecosystem, Google Wallet is already supported by both Citi and MasterCard. A partnership with Visa will add hundreds of thousands of acceptance points worldwide to the Google Wallet network, according to Visa.
The deal marks another bold move for Visa into the mobile payments market. Earlier this year, Visa launched its own digital wallet that provides consumers with “click-to-buy” payment functionality and access to their Visa and non-Visa accounts using a personal computer or smart phone. The service can be used to make purchases online and at retail locations. ![[end]](/resources/bullet/nfcnews-4.gif)
I like the fact that Google is opening up its virtual wallet to all major credit card brands, so that we can use for payment the card of our choice. American Express, in contrast, is doing precisely the opposite with its PayPal-like Serve. http://blog.unibulmerchantservices.com/google-wallet-goes-live-more-consumer-friendly-version-to-follow
These are exciting times with regards to Near Field Communication. Hopefully the credit card companies and banks will "play nice" so we can move forward with this long awaited technology. I enjoy reading your articles and posts. Visit http://NFC-Phones.com for additional info.
I agree with Dale.These are exciting times for all of us, and for some of us in the plastic cards biz mybe a little nerve racking. Hope there is enough room for all:)