Google's new mobile wallet illustrates the expected potential of local and mobile advertising, promotion, loyalty offers and "offers" as a full-blown revenue model in the mobile payments space, having nothing to do directly with the revenue earned by card issuers from the actual payment transactions.Google says its service will start out with "daily deals" but will expand into things like check-in offers. Though much attention remains focused on new "payments" platforms, the local advertising, mobile advertising and promotion businesses are seen by Google as the opportunities it wants to focus upon, logically enough, given its advertising revenue model.
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