The internet powerhouse used a recent press conference to introduce the world to Google Wallet, a new offering that aims to bridge the gap between online and offline commerce. Despite not even having an official launch date, the upcoming product is already generating a lot of talk and controversy in the process. In this article, we will examine the potential impact Google Wallet could have on the mobile marketing sector.

How it works

A Revolution in Mobile Shopping

Google Wallet is being designed as a mobile app that lets consumers securely make purchases right from their handsets. It will basically transform the consumer’s mobile device into a universal credit card as it allows purchases to be made with a Citi MasterCard credit card or Google Prepaid Card, both of which can be stored in the handset. According to the internet giant, the app will support other popular payment options in the near future. With Google Wallet, consumers will be able to make purchases in a matter of entering a simple PIN number and a few taps on their mobile display, creating a degree of convenience that did not exist for many users before.

Google Wallet Product Launch

Opportunities for Mobile Marketers

Brands are excited about Google Wallet, and its all because of the shining potential Google’s upcoming payment service has to offer. Marketers can take advantage in two ways, starting with the search company’s Groupon competitor Google Offers. A user can take any of the deals a business pushes through Offers and have them automatically synced to Wallet so they are easily accessible. Marketers can also “tap” into the apps potential by joining Google’s SingleTap partner program, which already includes well known brands such as Bloomingdales, Subway, and Toys R Us. The benefit here is being able to create innovative incentive programs that help brands reward users for their loyalty, which is great for strengthening relationships.

What is your mobile strategy?

We have learned that Google’s cutting edge mobile payment service is driven by a technology known as NFC. Short for Near Field Communication, NFC is a new form of wireless technology that allows devices within a certain range of one another to swap data. The future of Google Wallet will likely depend on the adoption of this technology among mobile makers. Although Sprint, who is allowing Google Wallet to be used on its Nexus S 4G, is currently using NFC chips in some of its phones, the search company itself projects that only 50% of smartphones will have this technology by 2014, meaning half of the user population will not have access to the functionality.

For the above reason and the fact that PayPal has filed a lawsuit against Google over basing its design on stolen mobile payment secrets, it may be wise for mobile marketers to see how this one develops before jumping on the Wallet bandwagon.

About the author

Nan King, a tech geek and environmentalist at heart, is an advocate of business email marketing strategies that encompass the use of an email marketing company which is permission based.

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