The global giants we know as “Google” have once again re-vamped the way we use our cell phones. Now more than ever convenience, reliability, and speed are on the top of consumer lists and what better way than to pay for your purchases than with your cell phone right? It may be the right answer for some but not all. According to an article released March 28, 2011 by the Wall Street Journal, Google will “partner with Citigroup , Verifone, and Mastercard to offer contactless payments on Android devices. So what is this NFC technology that Google will be using? “Basically, it's a way for devices to transmit and receive very small bits of information, wirelessly, at very close ranges.”
Read more: http://www.businessinsider.com/fourteen-ways-nfc-will-let-your-phone-replace-your-wallet-and-more-2011-3#ixzz1JB8Ust2J
Google doesn’t plan on charging any additional fees for using its payment app however; they will be selling select data to companies inquiring about purchase patterns and consumer purchase history. Would you rather pay a fee to use a convenient payment option instead of having your information shared with other marketers? Its not an option at this time however, Google may need to consider this as customers are becoming more and more skeptical about security measures set in place to secure their information. In this specific case, we are told up front that our information will be sold. Will this affect the success of the launch? Hardly doubtful but it is something for consumers to dwindle on during their morning coffee break.
http://www.thestreet.com/story/11053577/1/googles-mobile-payments-challenge.html?cm_ven=GOOGLEN
http://www.businessinsider.com/google-citi-verifone-mobile-payments-android-2011-3
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