VIDEO: Move Over Mobil Speedpass.
Here comes Google Wallet.
Ever use the Speedpass? Swipe the wand in front of the pump and it charges your account? I think they even had the Speedpass at McD’s for a while.
Well, the day has come… where you can use your phone… like a speedpass. Introducing “Google Wallet.”
Google Wallet is an Android app that makes your phone your wallet. It stores virtual versions of your existing plastic cards on your phone. Simply tap your phone to pay and redeem offers using near field communication, or NFC.
Rumors started over the weekend suggesting Google would launch Google Wallet, their mobile NFC-based payments system, today. Well, it’s Monday and those who like the snoop around the coffee shops in the morning have spotted logos for the service on vendors’ PoS system.
A Peets Coffee & Tee shop in San Francisco was equipped with the system, one GigaOM writer noticed. Google hasn’t yet made any formal announcement… There is only one Android that is equipped with NFC. So, Google wallet won’t concern you for the time being. – phandroid