It is not officially certain, but Google Wallet may launch this week. Several sources have indicated that Radio Shack and Google have partnered for the launch. Select Radio Shack locations may be used to launch the widely-anticipated service on September 1st, 2011.
Here at Creditshout we have been following the development of Google Wallet for awhile now. Customers that have Near Field Communication (NFC) technology-enabled phones or credit cards will be able to use the service in the future. This technology enables the phone or card to transmit credit card information over a range of approximately 1.6 inches. The information will be transmitted to a NFC reader to process each payment.
If Radio Shack is indeed preparing to launch this service, it is unlikely to affect Americans on a broad level at this time. The plan calls for such payments to only be accepted at certain locations, meaning that, unless you are a Radio Shack customer at these locations, you will be unaffected. Additionally, only users of the Samsung Nexus S Android phone will be able to use the service at this point, so you’ll need one of those as well if you plan to make such payments at this time.
Regardless of whether or not September 1st is the date of the launch of Google Wallet, it is going to be here soon enough. It will represent a shift in the way payments are processed and will add another use for smart phones. Smart phones will increasingly take on the roles of credit cards in addition to the plethora of other features that such phones have. It remains to be seen just how successful Google Wallet will ultimately be – and it appears we are about to begin finding out. Hopefully, Google will not get in the business of surgically attaching phones to hands, although that may be a worthwhile venture for them if this is successful!