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Google Wallet Promises to Change the Way You Pay

As previously discussed, the increased traction of the mobile market has opened many doors in terms of potential innovation down the road; not only in mobile-specific industries, but in industries that stand to benefit from continued mobile growth as well.  Because “smartphones” such as the Apple iPhone and the wide range of Android-based devices have become fixtures for many individuals it only makes sense that industries of all spectrums should (and indeed are) conforming to mobile users by developing products and services that are specifically focused around mobile devices.  Recently the Internet has seen quite a buzz of speculation relating to RFID technology that if developed and marketed correctly could very easily make mobile phones a standard method of payment; leaving plastic banking cards (and even paper cash) in the dust.

Personally, I had up until yesterday developed the opinion that Apple would be the first company to bring mobile payment platforms into the mainstream for millions of uses to take advantage of.   However it seems that Google has been actively working to develop and refine their own mobile payment transaction system, which they announced yesterday and will be testing in the New York and San Francisco regions later this summer.

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