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Posted: **Tue May 31, 2011 3:51 pm**

A lot of people speculated that this was coming... and it has.

Xbit Labs

Google along with Citi, MasterCard, First Data and Sprint on Thursday demonstrated Google Wallet, an app that transforms a phone into a wallet. Users will have to tap the phone to pay or redeem certain offerings or coupons. The Google Wallet app will be able to store credit cards, offers, loyalty cards and gift cards. When one taps to pay, the phone will also automatically redeem offers and earn loyalty points for the customer. Someday, even things like boarding passes, tickets, ID and keys could be stored in Google Wallet.
...
In the beginning, Google Wallet will be compatible with Nexus S 4G by Google, available on Sprint. Over time, Google plans on expanding support to more phones.

I have to admit, I really like the idea... but it makes me very worried if someone grabs my phone. Hopefully you could shut down the wallet feature remotely, which would actually make it safer in that instance... or open another avenue for DOS'ing someone, haha.

Posted: **Tue May 31, 2011 3:59 pm**

Google just got served with a lawsuit about this, filed by eBay/PayPal. Apparently, Google lured away a senior exec in charge of a similar program at PayPal.

Posted: **Tue May 31, 2011 4:07 pm**

google = half-baked, first out of the gate. it works on one single phone. on two carriers.

it's like the code equivalent of verbal diarrhea sometimes.

cool concept though. i would like to see a more secure alternative to magnetic credit cards. this has some potential. here's hoping they didn't steal it away from paypal.

Posted: **Tue May 31, 2011 4:27 pm**

http://www.bloomberg.com/news/2011-05-2 ... laims.html

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