The mobile payment service Google Wallet got unveiled yesterday. It will work initially with the Nexus S 4G.
Yesterday Google unveiled their mobile payment service Google Wallet. With Google Wallet you'll be able to store your credit cards, offers, loyalty cards and gift cards, but without the bulk. When you tap to pay, your phone will also automatically redeem offers and earn loyalty points for you. Someday, even things like boarding passes, tickets, ID and keys could be stored in Google Wallet. The full functionality of Google Wallet is going to be available with NFC enabled mobile phones, but Google also has plans to allow other phones to use Google Wallet.
TechCrunch reports that Google works on a solution that uses NFC stickers. These stickers would identify your account and the transaction would be done through the cloud. Google's Osama Bedier said that this solution would offer less functionality compared to an NFC phone. Details are very vague at this point how the NFC sticker payment system would work. It will anyway still take some time until Google Wallet rolls out. It is in field testing now. It might even get delayed as Google faces a lawsuit from PayPal that got filed just after the announcement. PayPal specifically filed a lawsuit against Osama Bedier and Stephanie Tilenius, former PayPal employees and now working for Google. PayPal says their trade secrets have been stolen.