Google Wallet is unveiled

05/26/2011 | Wall Street Journal, The

Google's long-rumored entry into the mobile payment space was announced today. Google Wallet is a near field communication-based system included in Nexus S handsets that is marketed by Sprint Nextel. The system is launching in New York and San Francisco, with plans for a nationwide rollout. Google also will launch Google Offers, a daily-deal service. Forrester Research analyst Charles Golvin said, "Google's interest here isn't in the payments, it's in the data that underlies the complete chain of commerce including consideration, promotion, transaction details, coupons and receipts."

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