Since the establishment of the initial pay by phone retail terminal, transactions have never been the same again. With much excitement, critics and consumers alike began cheering for the end of ?swipe? payments as the country starts making use of smartphones to pay for purchases in traditional retail stores.
The launch of phone-based transactions on the Sprint wireless network by First Data, Citigroup, Google and MasterCard has made faster and simpler payments possible for the users. Apart from offering a new payment alternative, phone-based transactions also offer many new marketing opportunities.
The Process of Mobile Payment
As far as Google's mobile transaction platform is concerned, the technology used is similar to PayPass, which is used in Citigroup credit cards. Just by waving your phone close to a Google Wallet terminal, you can pay for your purchases.
You will have to install the Google Wallet app in your android smartphone for this. Installation of the app is simple and after this all you need to do is save your credit card data in it. Your smartphone has a special chip that enables transaction when the device is placed close to POS terminal at a store.
Currently you can pay using Google Wallet only if your have a Citigroup prepaid debit card or a PayPass credit card and an android cell phone powered by the Sprint network.
The Perks of Making Use Of Google Wallet
The advantages of the Google Wallet do not stop with the ability to make swipe-less transactions. Special deals through Google Offers can be advantageous for both marketers and customers. This gives Google a way to boost its revenue while allowing retailers to capitalize on their in-store customers.
Extensive data collected during the process will allow the internet giant to better comprehend consumer purchase behavior. Google can use this information to sell highly targeted ads at premium costs to retailers and further up its revenue.
Competing Ideas
Google is not the only player to enter the pay by phone space. Visa, AT&T and Verizon Wireless have come together to kick start ISIS, a competing offering against Google Wallet. This pay by phone service also has the support of Wells Fargo and e-banking giant Bank of America. In spite of the reports indicating that search engine giant Google will allows its Wallet application to work with ISIS, it remains to be seen if Sprint users are able to access ISIS retailers.
Installation of the app is simple and after this all you need to do is save your credit card data in it. Your smartphone has a special chip that enables transaction when the device is placed close to POS terminal at a store.Special deals through Google Offers can be advantageous for both marketers and customers. This gives Google a way to boost its revenue while allowing retailers to capitalize on their in-store customers.
Article Directory : http://www.articlecube.com
