12 ms·

Coming soon: make your phone your wallet

178 points by Uncle_Sam 15y ago

ChrisArchitect 15y ago
huge move for Mastercard PayPass. But only works with Nexus S now? Are there a ton of phones coming to market with NFC capability?
- thinkcomp 15y ago
  Not really. There will be some NFC-enabled phones shipping over the next couple years, but with notable gaps. What you won't see is an NFC reader at your average (meaning not Palo Alto or Mountain View) corner pizza shop for a very long time. This is old news in the payments world. Trial #93 (or something like that) for contactless payments. The fact of the matter is, it's not about the handshake. It's about the infrastructure. MasterCard's infrastructure is old. That's why we need a new one, whether it uses NFC or something else (such as barcodes).
- deleted 15y ago
  [deleted]
  - MatthewPhillips 15y ago
    Except it will be called AirPay and have a proprietary handshake?
    - estel 15y ago
      I'm not sure why grandparent comment was deleted, I don't think it's unreasonable to say that the iPhone introducing NFC could well be a catalyst to the vast majority of handsets following the trend.
      - MatthewPhillips 15y ago
        It's probably more likely to be a catalyst for vendors adopting PayPass.
        estel 15y ago
        Given that stalled adoption thusfar seems to have mainly been a Catch-22, these might well be the same thing.
- nextparadigms 15y ago
  All Blackberry phones will have NFC soon, too, and I assume Google will push all Android manufacturers to use it.
  - shrikant 15y ago
    Also FWIW, the Nokia C7 has a 'dormant' NFC chip in it. It will be enabled in a future software update - Nokia's basically waiting for the technology to enter at least the early adoption phase. (I think that's a pity though - the C7's NFC capabilities will inevitably be drowned out by the iPhone and Android NFC-enabled handsets. Another classic example of Nokia missing the boat.)
MatthewPhillips 15y ago
Looks like they decided to reuse the Google Wave logo; colors are even the same order.
- rudiger 15y ago
  Well, yeah, the colors are in the same order as the Google logo.
  - MatthewPhillips 15y ago
    Excluding duplicates, yes.
losvedir 15y ago
Why does it have to be a Nexus S specifically on Sprint? I have a Nexus S via T-Mobile, with a NFC and all. Why wouldn't that work? Is it doing something special on the Sprint infrastructure?
- sern 15y ago
  According to the FAQ, the card is being emulated on the device's secure element. My guess is that the Google Wallet program was preloaded only on the Sprint Nexus S's secure element. I fully expect a future version to do the security-critical stuff on a remote server, which would allow the application to work without a secure element but with a slower transaction time.
  - estel 15y ago
    All Nexus S phones, I believe, came with the PN65 secure chip: I'm not sure what could be missing from them that's needed by Wallet.
    - chc 15y ago
      As sern said, what could be missing is the Google Wallet software.
51Cards 15y ago
I have watched a lot of these initiatives come and go but this one is the first that I think has a strong chance of success. The core elements are already integrated for full functionality and offers. With a bank and credit company on board, an existing hardware system deployed, and the ability to quickly tie it into the millions of existing Google accounts I think this just might be the tipping point. High percentage adoption by the consumer will take awhile. Lots of phone upgrades, consumer trust, and general concept awareness will take time. Edit: I think this will be overlooked some as well. The Subway partnership is huge. They have the most fast food stores in the world (I believe they exceeded McDonalds last year). Talk about copious instant eyeball time!
- cosgroveb 15y ago
  Merchant adoption is also necessary. It will take a long time to convince small businesses to install these readers without some sort of subsidy.
  - pitdesi 15y ago
    True that you need merchant adoption. This whole thing will take a lot of time... but the subsidies wouldn't need to be that much - NFC is a $30 add-on. They can be in a lot of places fairly quickly. http://www.fastcompany.com/1741837/wave-and-pay-nfc-credit-cards-are-definitely-in-bound?partner=rss http://www.fastcompany.com/1741837/wave-and-pay-nfc-credit-c...
  - jakehow 15y ago
    It works on the Mastercard PayPass hardware. Adoption is already pretty far down the road on the POS side. EDIT: Go here to search for Paypass merchants in your hood: http://www.google.com/wallet/where-it-works.html http://www.google.com/wallet/where-it-works.html
    - glhaynes 15y ago
      But until it's essentially universal, that still shifts burden to the user: they have to look around and try to figure out whether this alternative payment method is accepted at this merchant. Why wouldn't they just whip out their credit card that they know is going to be accepted? EDIT: What I mean to say is: if credit-card-swiping were particularly onerous, I could see this easily taking off. But since it's not (at all!) and people are trying to replace it with something that seems equally-if-not-more burdensome, it's hard for me to see why this would catch on outside tech folks that mostly do it for the geekfactor.
bproper 15y ago
Interesting to me that, Google mentioned they were interested in bringing game mechanics directly to the wallet app.
- SeoxyS 15y ago
  I certainly hope that's not true. It'd be a deal-breaker for me. I don't want to play games with my wallet. I want it to be a simple, serious and functional tool for dealing with money. Some things should not be game-ified.
glhaynes 15y ago
It's hard for me to immediately see how this benefits me enough to get excited about it [1] and I have mild anxiety over expanding my personal reliance on my battery-driven, fairly-easily-breakable phone [2]. [1] In anything but the long-term, I'm going to still have to carry a wallet, so what have I really gained? I'm not educated on the whole NFC thing, but that's my point - they'll have to really do a great job of educating people on why this is beneficial if they're gonna get Average Joe [and the store servicing him] to jump on it. [2] Not that that's necessarily rational; but see [1].
- zer0her0 15y ago
  1 You've never had a magnetic strip fail on your card? or the numbers worn off your card? 2 Just like you still have to carry cash in your wallet w/ your card?
  - ern 15y ago
    1 You've never had a magnetic strip fail on your card? or the numbers worn off your card? I am certain magnetic strip/smartcard failures happen far less often than flat phone batteries.
brown9-2 15y ago
Regardless of how useful this idea might be, it's nice to see Google getting behind a new feature of theirs and pushing hard instead of letting it languish (like other discontinued projects, the Nexus-One-we'll-be-the-store idea, etc).
- hullo 15y ago
  as this is only several hours old I don't think the evidence is in place to really give an informed judgment on whether it will languish or not
  - brown9-2 15y ago
    I'm really referring to the NFC chip in general, it's been available in the Nexus S since the phone launched in December.
nodata 15y ago
Unless we start seeing regular security updates on Android - independent of manufacturer - we're going to see something that makes the Sony fiasco look laughable in comparison.
chailatte 15y ago
Monopoly. First Google came for the payment app/website, and I didn't speak out because I wasn't doing that. Then Google came for the file sharing app/website, and I didn't speak out because I wasn't doing that. Then Google came for the social app/website, and I didn't speak out because I wasn't doing that. Then Google came for me and there was no one left to speak out for me.
- riffic 15y ago
  Horrible analogy; this is hardly wholesale slaughter of human beings.
- pessimist 15y ago
  Maybe I'm foolish for responding to a troll but I dont understand why Google is being considered a monopoly? Its not even a bit-player yet in payments, file sharing or social. It has high (~2/3) but not not monopoly share of search in the US, and higher ~80% share of search ads. Compared to the monopolistic positions held by Microsoft, Apple (itunes) and Facebook, hardly seems unusual.
pessimist 15y ago
Any estimate on how [un] reliable a phone is vs a piece of plastic with a magnetic stripe? Also - this is not clear to me - what new pieces have to rollout for this to work? New Point-of-sale machines AND new phones with NFC? COuld this interoperate with an iPAD POS app like Square?
- culturestate 15y ago
  NFC payments are not actually new in America - AmEx and Mastercard have been using it for years (that's what the little chip in AmEx Blue cards is for), so the infrastructure is largely already in place. Google's method of keeping your information in a centralized location and the idea of building it into your cellphone instead of a card is the biggest change.
  - spydez 15y ago
    The annoying thing about the chip in my AmEx is that the charge shows up as "Expresspay Blue" on my statement, instead of showing up as the merchant ("Best Buy" or what have you). This throws off my pretty charts and budgets in Mint and has resulted in me reverting to just swiping the card everywhere. I still have a dozen or so "Expresspay Blue" charges sitting there in Mint, uncategorized, because I can't remember who I paid $12.57 to back in October (or whatever). Minor annoyance? Absolutely. But if NFC-payment-via-phone has the same issue, you can bet money that I'll ditch it and go back to swiping my credit card.
- kelnos 15y ago
  I see a problem just with battery life. It's not unusual that I'll be out late, and my phone (Nexus One) is dead well before I've stopped paying for things with cash/CC. In over 10 years I've only had the mag strip on one CC fail on me. Though, to be fair, my current AmEx has split in two (it's two pieces of plastic bonded together... not particularly strongly, I guess), but the card still works.
rglover 15y ago
If this were to gain traction with more banks/creditors/business, it will be huge. The idea has been done before (not necessarily credit cards) but not with a name like Google. The top thought in my mind is security. I'm guessing the app will be password protected, but what other security measures are involved? Another setback is the supported devices. Google needn't be naive and only implement this in Android devices. Can't wait to see where they take the idea.
- jonknee 15y ago
  http://www.google.com/wallet/how-it-works-security.html http://www.google.com/wallet/how-it-works-security.html
- sadlyNess 15y ago
  On Supported devices: i perceive that they are planning this as a long-term all-over-the-place thing, so they are probably talking to as many device manufacturers and as many banks to support this.
larrykubin 15y ago
My phone and my wallet have been together for 3-4 years now (in a totally different way): http://imgur.com/utmU6 http://imgur.com/utmU6 It's nice because if the phone dies, I can still access my ID, credit cards, and bus pass. The idea of an electronic version is very nice though since it can expand to so many things without taking up more space. With this physical wallet, I just carry the bear essentials (ID, Credit/Debit Card, Insurance, Public Transit Pass)
iandanforth 15y ago
Isn't this common in Japan? Anyone want to chime in with their experiences there?
- yoshyosh 15y ago
  Japan is very cash centric when it comes to transactions, while I was there I never saw a credit card lol (2 yrs ago)
- Klonoar 15y ago
  Yeah, there's NFC access for vending machines/convenience stores, but as already noted Japan is still very cash centric (which I find I prefer, but YMMV). tl;dr it's here in Japan, yes, but not as "use anywhere" as you'd be led to believe. Doesn't mean it doesn't fucking rock, though.
- georgieporgie 15y ago
  I have a Suica card sitting here on my desk. Suica is Japan Rail's refillable, tap-payment system. It's been adopted for use at convenience stores and seems to be all over the place now. Basically, anywhere likely to make small sales to commuters is extremely likely to accept Suica. http://en.wikipedia.org/wiki/Suica http://en.wikipedia.org/wiki/Suica The Wikipedia article mentions the VIEW card, which is a hybrid credit card and Suica.
  - bostonvaulter2 15y ago
    Is it possible to have a Suica card built into the phone instead of being a separate card?
    - teejae 15y ago
      Yes, it's standard in most phones sold in Japan. Charged to your monthly phone bill.
- bemmu 15y ago
  At least in some electronics stores you can collect loyalty points on your NFC phone, but for payments it's probably 95% cash and 5% suica / pasmo subway cards.
thinkcomp 15y ago
In light of the announcement, our updated mobile payments comparison chart: https://www.facecash.com/versus/ https://www.facecash.com/versus/
- deleted 15y ago
  [deleted]
yalogin 15y ago
Wow. With the first release itself Google is doing many things. Not just payments but also offers, coupon redeeming etc. This is devastating for all the apps offering offers, coupons etc. The worst part (or best part for Google) about this is its all Google. Third parties could integrate NFC payments, but with the Google app doing the exact same thing and more, all the other apps are now redundant. EDIT: Square just started pushing into the bigger retailers with a POS system. Its kind of screwed now with this too as Google offers a superior alternative and a bigger brand name to merchants.
VMG 15y ago
.. in the US
pitdesi 15y ago
cool - they integrated Payments and Deals into a phone. Great. Will anyone use this? Not anytime soon. Right now they are integrated with one phone on one network with one credit card. (Nexus S on Sprint with a Citi Mastercard). The number of people that have that is pretty small, but then they also have to use it at a vendor which supports it. Google did a great job with this, partnering with Paypass so there is an existing vendor base already http://www.google.com/wallet/where-it-works.html… http://www.google.com/wallet/where-it-works.html… that being said, it just seems too complicated at the moment, and not a huge value add. I love Paypass already, and it's not that hard for me to knock my wallet onto the device. This doesn't really make it that much better. We're really a couple of years off from broad-based adoption of NFC. The other thing is that Apple has a huge say in adoption. Some say the iPhone 5 won't have NFC. Even if it does, there is no guarantee that Apple will support Google Wallet right off the bat (See: Google voice - yes it's supported now but still crippled and it took a LONG time).
- flamingbuffalo 15y ago
  and, even if iphone5 has nfs, it's probably unlikely that apple would support google wallet instead of creating their own solution.
  - cloudwalking 15y ago
    Do you really see Apple creating a deals program? They might integrate payments with iTunes account somehow, but unless they buy Square, I'm not sure they'll make a big push. And if the iPhone 5 does have NFC, I'm sure there'll be an app for Google Wallet.
    - evgen 15y ago
      There will be a Google wallet app only if Apple allows it, which is unlikely. A more likely path is that Apple will partner with someone like Intuit (whose former CEO and current board chairman sits on Apple's board) and merge NFC in with Intuit's GoPay system. If Apple wants to do to the mobile payment industry what it did to the music industry it will partner with Intuit and offer merchants a "business ready" iPad 3 that will act as a POS terminal and hook in to something like an iOS version of quickbooks. Give away the hardware as a loss-leader for the payment service and cut a lot of middlemen out of the system. Since Apple is already on the path to testing out iPad POS services in the Apple store they can refine the hardware/software and then roll out something that works well for both the user and the merchant.
SeoxyS 15y ago
I can't wait for the iOS version of this. Integration with Square.app would be really neat, too!
- jokermatt999 15y ago
  With how long it took Google Voice to be accepted by Apple, I'm not too optimistic there will be one soon.
MatthewPhillips 15y ago
So what's the startup idea for this?
Geee 15y ago
Is there something that is exclusive to Google? Could this be implemented on any phone with NFC right now?
nodata 15y ago
This is BIG. It means when you leave your house you need to bring: * Your phone. That's it. Your phone is now your money, a dockable laptop, and your keys. This is incredible: like living in a futuristic comic book.
- Estragon 15y ago
  Your phone will now also be an even more powerful device for tracking your activity. I'm surprised at how relaxed everyone is about that.
  - froydnj 15y ago
    This is a great point; see also http://news.ycombinator.com/item?id=2589331 http://news.ycombinator.com/item?id=2589331 The big thing about that article is that the tracking capabilities come from things people actually want in their devices, not from nefarious schemes to follow people around. And most people aren't going to inquire about the larger purposes to which these technologies can be put.
- tlrobinson 15y ago
  Next step: computers implanted into our bodies.
  - erohead 15y ago
    Or on your wrist!
  - meric 15y ago
    http://www.marshallbrain.com/manna1.htm http://www.marshallbrain.com/manna1.htm
- tesseract 15y ago
  You forgot: * Your credit card, for businesses that don't have RFID smart card readers * Cash, for businesses that don't even take credit cards * Public transit pass, at least until those start to be supported by phone NFC software, and/or * Driver's license or ID
dsl 15y ago
Does anyone have an iPod cable handy? My wallet's battery is dead!
jacobbijani 15y ago
My phone already is my wallet: http://jacobbijani.com/post/4209441008 http://jacobbijani.com/post/4209441008
aw3c2 15y ago
Is this anonymous or does the place afterwards know my phone's ID?
southpolesteve 15y ago
Mobile gas stations have had a touch and go payment system for a while called Speedpass. It is very slick and I use it all the time. I even go out of my way to visit Mobile gas stations to use it. I can't wait till this is everywhere
motters 15y ago
The comments here seem to be overwhelmingly positive, but if I were to use this routinely doesn't it mean that not just my search information but also my financial information is available to Google to analyze and/or sell to advertisers or make available via backdoor APIs?. Google already has a lot of information about a lot of people.
spitfire 15y ago
I think google might have just discovered another very large revenue stream. Colour me gobsmacked but getting to be in the middle of the future of transactions sounds like a great thing. Getting to be in the middle, and on the advertising angle and the deals/coupon game all at once? Now I'm jealous.
dlitwak 15y ago
I'm curious to see what effect this has on companies like Square, who seem to have been leapfrogged a bit. But I guess since square's main offering is as a point-of-sale credit-card swiper, I suppose there is a way they can change their product offering to something that can read phones as well as take cards.
yaix 15y ago
>> Someday, even things like boarding passes, tickets, ID and keys could be stored in Google Wallet. I think it's called a "single point of failure". Always a "good" thing to have.
retube 15y ago
... and the relentless quest for consumer data continues. It's a nice concept, one that has been hyped for a long time. But the trade-off is sharing/giving up even more personal data.

178 points by Uncle_Sam 15y ago

huge move for Mastercard PayPass. But only works with Nexus S now? Are there a ton of phones coming to market with NFC capability?

thinkcomp 15y ago
Not really. There will be some NFC-enabled phones shipping over the next couple years, but with notable gaps. What you won't see is an NFC reader at your average (meaning not Palo Alto or Mountain View) corner pizza shop for a very long time. This is old news in the payments world. Trial #93 (or something like that) for contactless payments. The fact of the matter is, it's not about the handshake. It's about the infrastructure. MasterCard's infrastructure is old. That's why we need a new one, whether it uses NFC or something else (such as barcodes).
deleted 15y ago
[deleted]
- MatthewPhillips 15y ago
  Except it will be called AirPay and have a proprietary handshake?
  - estel 15y ago
    I'm not sure why grandparent comment was deleted, I don't think it's unreasonable to say that the iPhone introducing NFC could well be a catalyst to the vast majority of handsets following the trend.
    - MatthewPhillips 15y ago
      It's probably more likely to be a catalyst for vendors adopting PayPass.
      - estel 15y ago
        Given that stalled adoption thusfar seems to have mainly been a Catch-22, these might well be the same thing.
nextparadigms 15y ago
All Blackberry phones will have NFC soon, too, and I assume Google will push all Android manufacturers to use it.
- shrikant 15y ago
  Also FWIW, the Nokia C7 has a 'dormant' NFC chip in it. It will be enabled in a future software update - Nokia's basically waiting for the technology to enter at least the early adoption phase. (I think that's a pity though - the C7's NFC capabilities will inevitably be drowned out by the iPhone and Android NFC-enabled handsets. Another classic example of Nokia missing the boat.)

MatthewPhillips 15y ago

Looks like they decided to reuse the Google Wave logo; colors are even the same order.

rudiger 15y ago
Well, yeah, the colors are in the same order as the Google logo.
- MatthewPhillips 15y ago
  Excluding duplicates, yes.

losvedir 15y ago

Why does it have to be a Nexus S specifically on Sprint? I have a Nexus S via T-Mobile, with a NFC and all. Why wouldn't that work? Is it doing something special on the Sprint infrastructure?

sern 15y ago
According to the FAQ, the card is being emulated on the device's secure element. My guess is that the Google Wallet program was preloaded only on the Sprint Nexus S's secure element. I fully expect a future version to do the security-critical stuff on a remote server, which would allow the application to work without a secure element but with a slower transaction time.
- estel 15y ago
  All Nexus S phones, I believe, came with the PN65 secure chip: I'm not sure what could be missing from them that's needed by Wallet.
  - chc 15y ago
    As sern said, what could be missing is the Google Wallet software.

51Cards 15y ago

I have watched a lot of these initiatives come and go but this one is the first that I think has a strong chance of success. The core elements are already integrated for full functionality and offers. With a bank and credit company on board, an existing hardware system deployed, and the ability to quickly tie it into the millions of existing Google accounts I think this just might be the tipping point. High percentage adoption by the consumer will take awhile. Lots of phone upgrades, consumer trust, and general concept awareness will take time. Edit: I think this will be overlooked some as well. The Subway partnership is huge. They have the most fast food stores in the world (I believe they exceeded McDonalds last year). Talk about copious instant eyeball time!

cosgroveb 15y ago
Merchant adoption is also necessary. It will take a long time to convince small businesses to install these readers without some sort of subsidy.
- pitdesi 15y ago
  True that you need merchant adoption. This whole thing will take a lot of time... but the subsidies wouldn't need to be that much - NFC is a $30 add-on. They can be in a lot of places fairly quickly. http://www.fastcompany.com/1741837/wave-and-pay-nfc-credit-cards-are-definitely-in-bound?partner=rss http://www.fastcompany.com/1741837/wave-and-pay-nfc-credit-c...
- jakehow 15y ago
  It works on the Mastercard PayPass hardware. Adoption is already pretty far down the road on the POS side. EDIT: Go here to search for Paypass merchants in your hood: http://www.google.com/wallet/where-it-works.html http://www.google.com/wallet/where-it-works.html
  - glhaynes 15y ago
    But until it's essentially universal, that still shifts burden to the user: they have to look around and try to figure out whether this alternative payment method is accepted at this merchant. Why wouldn't they just whip out their credit card that they know is going to be accepted? EDIT: What I mean to say is: if credit-card-swiping were particularly onerous, I could see this easily taking off. But since it's not (at all!) and people are trying to replace it with something that seems equally-if-not-more burdensome, it's hard for me to see why this would catch on outside tech folks that mostly do it for the geekfactor.

bproper 15y ago

Interesting to me that, Google mentioned they were interested in bringing game mechanics directly to the wallet app.

SeoxyS 15y ago
I certainly hope that's not true. It'd be a deal-breaker for me. I don't want to play games with my wallet. I want it to be a simple, serious and functional tool for dealing with money. Some things should not be game-ified.

glhaynes 15y ago

It's hard for me to immediately see how this benefits me enough to get excited about it [1] and I have mild anxiety over expanding my personal reliance on my battery-driven, fairly-easily-breakable phone [2]. [1] In anything but the long-term, I'm going to still have to carry a wallet, so what have I really gained? I'm not educated on the whole NFC thing, but that's my point - they'll have to really do a great job of educating people on why this is beneficial if they're gonna get Average Joe [and the store servicing him] to jump on it. [2] Not that that's necessarily rational; but see [1].

zer0her0 15y ago
1 You've never had a magnetic strip fail on your card? or the numbers worn off your card? 2 Just like you still have to carry cash in your wallet w/ your card?
- ern 15y ago
  1 You've never had a magnetic strip fail on your card? or the numbers worn off your card? I am certain magnetic strip/smartcard failures happen far less often than flat phone batteries.

brown9-2 15y ago

Regardless of how useful this idea might be, it's nice to see Google getting behind a new feature of theirs and pushing hard instead of letting it languish (like other discontinued projects, the Nexus-One-we'll-be-the-store idea, etc).

hullo 15y ago
as this is only several hours old I don't think the evidence is in place to really give an informed judgment on whether it will languish or not
- brown9-2 15y ago
  I'm really referring to the NFC chip in general, it's been available in the Nexus S since the phone launched in December.

nodata 15y ago

Unless we start seeing regular security updates on Android - independent of manufacturer - we're going to see something that makes the Sony fiasco look laughable in comparison.

chailatte 15y ago

Monopoly. First Google came for the payment app/website, and I didn't speak out because I wasn't doing that. Then Google came for the file sharing app/website, and I didn't speak out because I wasn't doing that. Then Google came for the social app/website, and I didn't speak out because I wasn't doing that. Then Google came for me and there was no one left to speak out for me.

riffic 15y ago
Horrible analogy; this is hardly wholesale slaughter of human beings.
pessimist 15y ago
Maybe I'm foolish for responding to a troll but I dont understand why Google is being considered a monopoly? Its not even a bit-player yet in payments, file sharing or social. It has high (~2/3) but not not monopoly share of search in the US, and higher ~80% share of search ads. Compared to the monopolistic positions held by Microsoft, Apple (itunes) and Facebook, hardly seems unusual.

pessimist 15y ago

Any estimate on how [un] reliable a phone is vs a piece of plastic with a magnetic stripe? Also - this is not clear to me - what new pieces have to rollout for this to work? New Point-of-sale machines AND new phones with NFC? COuld this interoperate with an iPAD POS app like Square?

culturestate 15y ago
NFC payments are not actually new in America - AmEx and Mastercard have been using it for years (that's what the little chip in AmEx Blue cards is for), so the infrastructure is largely already in place. Google's method of keeping your information in a centralized location and the idea of building it into your cellphone instead of a card is the biggest change.
- spydez 15y ago
  The annoying thing about the chip in my AmEx is that the charge shows up as "Expresspay Blue" on my statement, instead of showing up as the merchant ("Best Buy" or what have you). This throws off my pretty charts and budgets in Mint and has resulted in me reverting to just swiping the card everywhere. I still have a dozen or so "Expresspay Blue" charges sitting there in Mint, uncategorized, because I can't remember who I paid $12.57 to back in October (or whatever). Minor annoyance? Absolutely. But if NFC-payment-via-phone has the same issue, you can bet money that I'll ditch it and go back to swiping my credit card.
kelnos 15y ago
I see a problem just with battery life. It's not unusual that I'll be out late, and my phone (Nexus One) is dead well before I've stopped paying for things with cash/CC. In over 10 years I've only had the mag strip on one CC fail on me. Though, to be fair, my current AmEx has split in two (it's two pieces of plastic bonded together... not particularly strongly, I guess), but the card still works.

rglover 15y ago

If this were to gain traction with more banks/creditors/business, it will be huge. The idea has been done before (not necessarily credit cards) but not with a name like Google. The top thought in my mind is security. I'm guessing the app will be password protected, but what other security measures are involved? Another setback is the supported devices. Google needn't be naive and only implement this in Android devices. Can't wait to see where they take the idea.

jonknee 15y ago
http://www.google.com/wallet/how-it-works-security.html http://www.google.com/wallet/how-it-works-security.html
sadlyNess 15y ago
On Supported devices: i perceive that they are planning this as a long-term all-over-the-place thing, so they are probably talking to as many device manufacturers and as many banks to support this.

larrykubin 15y ago

My phone and my wallet have been together for 3-4 years now (in a totally different way): http://imgur.com/utmU6 http://imgur.com/utmU6 It's nice because if the phone dies, I can still access my ID, credit cards, and bus pass. The idea of an electronic version is very nice though since it can expand to so many things without taking up more space. With this physical wallet, I just carry the bear essentials (ID, Credit/Debit Card, Insurance, Public Transit Pass)

iandanforth 15y ago

Isn't this common in Japan? Anyone want to chime in with their experiences there?

yoshyosh 15y ago
Japan is very cash centric when it comes to transactions, while I was there I never saw a credit card lol (2 yrs ago)
Klonoar 15y ago
Yeah, there's NFC access for vending machines/convenience stores, but as already noted Japan is still very cash centric (which I find I prefer, but YMMV). tl;dr it's here in Japan, yes, but not as "use anywhere" as you'd be led to believe. Doesn't mean it doesn't fucking rock, though.
georgieporgie 15y ago
I have a Suica card sitting here on my desk. Suica is Japan Rail's refillable, tap-payment system. It's been adopted for use at convenience stores and seems to be all over the place now. Basically, anywhere likely to make small sales to commuters is extremely likely to accept Suica. http://en.wikipedia.org/wiki/Suica http://en.wikipedia.org/wiki/Suica The Wikipedia article mentions the VIEW card, which is a hybrid credit card and Suica.
- bostonvaulter2 15y ago
  Is it possible to have a Suica card built into the phone instead of being a separate card?
  - teejae 15y ago
    Yes, it's standard in most phones sold in Japan. Charged to your monthly phone bill.
bemmu 15y ago
At least in some electronics stores you can collect loyalty points on your NFC phone, but for payments it's probably 95% cash and 5% suica / pasmo subway cards.

thinkcomp 15y ago

In light of the announcement, our updated mobile payments comparison chart: https://www.facecash.com/versus/ https://www.facecash.com/versus/

deleted 15y ago
[deleted]

yalogin 15y ago

Wow. With the first release itself Google is doing many things. Not just payments but also offers, coupon redeeming etc. This is devastating for all the apps offering offers, coupons etc. The worst part (or best part for Google) about this is its all Google. Third parties could integrate NFC payments, but with the Google app doing the exact same thing and more, all the other apps are now redundant. EDIT: Square just started pushing into the bigger retailers with a POS system. Its kind of screwed now with this too as Google offers a superior alternative and a bigger brand name to merchants.

VMG 15y ago

.. in the US

pitdesi 15y ago

cool - they integrated Payments and Deals into a phone. Great. Will anyone use this? Not anytime soon. Right now they are integrated with one phone on one network with one credit card. (Nexus S on Sprint with a Citi Mastercard). The number of people that have that is pretty small, but then they also have to use it at a vendor which supports it. Google did a great job with this, partnering with Paypass so there is an existing vendor base already http://www.google.com/wallet/where-it-works.html… http://www.google.com/wallet/where-it-works.html… that being said, it just seems too complicated at the moment, and not a huge value add. I love Paypass already, and it's not that hard for me to knock my wallet onto the device. This doesn't really make it that much better. We're really a couple of years off from broad-based adoption of NFC. The other thing is that Apple has a huge say in adoption. Some say the iPhone 5 won't have NFC. Even if it does, there is no guarantee that Apple will support Google Wallet right off the bat (See: Google voice - yes it's supported now but still crippled and it took a LONG time).

flamingbuffalo 15y ago
and, even if iphone5 has nfs, it's probably unlikely that apple would support google wallet instead of creating their own solution.
- cloudwalking 15y ago
  Do you really see Apple creating a deals program? They might integrate payments with iTunes account somehow, but unless they buy Square, I'm not sure they'll make a big push. And if the iPhone 5 does have NFC, I'm sure there'll be an app for Google Wallet.
  - evgen 15y ago
    There will be a Google wallet app only if Apple allows it, which is unlikely. A more likely path is that Apple will partner with someone like Intuit (whose former CEO and current board chairman sits on Apple's board) and merge NFC in with Intuit's GoPay system. If Apple wants to do to the mobile payment industry what it did to the music industry it will partner with Intuit and offer merchants a "business ready" iPad 3 that will act as a POS terminal and hook in to something like an iOS version of quickbooks. Give away the hardware as a loss-leader for the payment service and cut a lot of middlemen out of the system. Since Apple is already on the path to testing out iPad POS services in the Apple store they can refine the hardware/software and then roll out something that works well for both the user and the merchant.

SeoxyS 15y ago

I can't wait for the iOS version of this. Integration with Square.app would be really neat, too!

jokermatt999 15y ago
With how long it took Google Voice to be accepted by Apple, I'm not too optimistic there will be one soon.

MatthewPhillips 15y ago

So what's the startup idea for this?

Geee 15y ago

Is there something that is exclusive to Google? Could this be implemented on any phone with NFC right now?

nodata 15y ago

This is BIG. It means when you leave your house you need to bring: * Your phone. That's it. Your phone is now your money, a dockable laptop, and your keys. This is incredible: like living in a futuristic comic book.

Estragon 15y ago
Your phone will now also be an even more powerful device for tracking your activity. I'm surprised at how relaxed everyone is about that.
- froydnj 15y ago
  This is a great point; see also http://news.ycombinator.com/item?id=2589331 http://news.ycombinator.com/item?id=2589331 The big thing about that article is that the tracking capabilities come from things people actually want in their devices, not from nefarious schemes to follow people around. And most people aren't going to inquire about the larger purposes to which these technologies can be put.
tlrobinson 15y ago
Next step: computers implanted into our bodies.
- erohead 15y ago
  Or on your wrist!
- meric 15y ago
  http://www.marshallbrain.com/manna1.htm http://www.marshallbrain.com/manna1.htm
tesseract 15y ago
You forgot: * Your credit card, for businesses that don't have RFID smart card readers * Cash, for businesses that don't even take credit cards * Public transit pass, at least until those start to be supported by phone NFC software, and/or * Driver's license or ID

dsl 15y ago

Does anyone have an iPod cable handy? My wallet's battery is dead!

jacobbijani 15y ago

My phone already is my wallet: http://jacobbijani.com/post/4209441008 http://jacobbijani.com/post/4209441008

aw3c2 15y ago

Is this anonymous or does the place afterwards know my phone's ID?

southpolesteve 15y ago

Mobile gas stations have had a touch and go payment system for a while called Speedpass. It is very slick and I use it all the time. I even go out of my way to visit Mobile gas stations to use it. I can't wait till this is everywhere

motters 15y ago

The comments here seem to be overwhelmingly positive, but if I were to use this routinely doesn't it mean that not just my search information but also my financial information is available to Google to analyze and/or sell to advertisers or make available via backdoor APIs?. Google already has a lot of information about a lot of people.

spitfire 15y ago

I think google might have just discovered another very large revenue stream. Colour me gobsmacked but getting to be in the middle of the future of transactions sounds like a great thing. Getting to be in the middle, and on the advertising angle and the deals/coupon game all at once? Now I'm jealous.

dlitwak 15y ago

I'm curious to see what effect this has on companies like Square, who seem to have been leapfrogged a bit. But I guess since square's main offering is as a point-of-sale credit-card swiper, I suppose there is a way they can change their product offering to something that can read phones as well as take cards.

yaix 15y ago

>> Someday, even things like boarding passes, tickets, ID and keys could be stored in Google Wallet. I think it's called a "single point of failure". Always a "good" thing to have.

retube 15y ago

... and the relentless quest for consumer data continues. It's a nice concept, one that has been hyped for a long time. But the trade-off is sharing/giving up even more personal data.