Google Unveils ‘Google Wallet’

Google have today announced a new wireless payment scheme, labeled 'Google Wallet'. The test cities for this new tech are San Francisco and New York, allowing users with a Samsung Nexus S 4G phone to purchase items by tapping against a payment PayPass terminal in a retail outlet.

The Google Wallet initially supports only MasterCard credit cards, with users being able to pay at 120,000 U.S shops, Including; Subway, Macy's, American Eagle and Toys 'R' Us amongst others. Google plan to officially release the service in the U.S. this summer, pointing out that over 300,000 international retailers have the capability to support this service.

Google Wallet is planned to be integrated with the new Google Offers service, allowing for local offers to be searched based on location. Further down the line, Google have hinted at maybe incorporating driving licences, hotel keys and concert tickets also into the service.

Video: Why are merchants excited about Google Wallet?