The mobile wallet space is crowded with would-be providers, but few of the providers have much consumer mindshare. Of course, early in a complicated new market, it helps to cultivate users, no matter how a provider has to do so.
Google Wallet, for example, has so far staked its fortunes on use of near field communications, with Sprint as a partner, but with Isis (AT&T, Verizon, T-Mobile USA) as direct competitors. It has been tough slogging for Google Wallet, as for Isis.
So now Google appears to be readying a surprise move: launching a physical credit card that is linked to the other cards a Google Wallet user has stored in the Google Wallet application. That move, which will link the
physical Google Wallet card with the other credit and debit cards a consumer uses, will obviously allow Google Wallet to get more potential traction, even before the base of devices, point of sale terminals and other ecosystem partners is fully populated.
The physical Google Wallet Card will work just like a regular credit card. Whatever a Google Wallet user's selected default card on the Wallet app is, the Wallet card will use to conclude a purchase. The major advantage is that it gets users comfortable with Google Wallet in lots more venues, even if the full mobile implementation is not possible.
In principle, the Google Wallet card could free Google from the constraints of getting mobile service provider "permissiion" to operate, as well. In principle, the Google Wallet card could be an app installed on any phone.
Get an invite here.
Friday, November 2, 2012
Google Wallet: The Credit Card Proxy
Gary Kim has been a digital infra analyst and journalist for more than 30 years, covering the business impact of technology, pre- and post-internet. He sees a similar evolution coming with AI. General-purpose technologies do not come along very often, but when they do, they change life, economies and industries.
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