Google Officially Announces Google Wallet

Google Inc. (NASDAQ:GOOG) has announced the Google Wallet application that will turn your mobile device into a wallet. You will soon be able to use your Android device to tap, pay, and save using near field communication (NFC). Google is currently field testing Google Wallet and plans on releasing it ver soon.

Google Wallet is aimed at improving shopping for businesses and consumers. The Google Wallet app can store credit cards, loyalty cards, gift cards, and offers. When you tap the Android phone, it will automatically redeem offers and earn loyalty points. Google envisions that passes, tickets, keys, and IDs can be stored in Google Wallet.

Google Wallet will initially support Citi MasterCard and Google Prepaid Card. Google Wallet will also have the ability to sync Google Offers. To learn more about Google Wallet, visit: www.google.com/wallet.

[Google Blog]

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