Google has launched its mobile payments services.,Dubbed as Google Wallet . Google has already started its trial trials in New York, Portland, and San Francisco, with other cities to follow soon.
The service will launch for Sprint’s Nexus S 4G customers(Primarily because the phone features CDMA and WiMax), and will support Citi MasterCard and Google Prepaid Card transactions at MasterCard PayPass outlets. More devices will be supported soon but an inbuilt NFC (Near Field Communication )chip is a basic requirement, which is still rare to find.
With the Google Wallet service and Android app, Google intends to power “an open commerce ecosystem.” Apart from credit/debit cards, it will be able to store offers, loyalty cards, and gift cards, and allow redemption.To use any credit card in your wallet, you’ll need to enter your PIN each time you want to pay.Google will also be getting into the prepaid card market. It will offer prepaid rechargeable Google Mastercards. As an incentive, when you sign up for a Google MasterCard, the company will deposit $10.00, for free, into your prepaid account.
Checkout their website for more,: http://www.google.com/wallet/