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December 6, 2011
Read: Google’s product is competing with our product. Google Wallet has drawn a lot of attention in recent months for its end-to-end reinvention of the paying experience — one that, if it takes off, could make carrying around credit cards a thing of the past. However… the first phone on Verizon’s network that could support the technology behind Google Wallet, the Galaxy Nexus, has the software disabled. The company says they’ve blocked it in an effort to provide “the best security and user experience.” However… Verizon is working with AT&T and T-Mobile on a competing service, Isis, which has yet to launch. Perhaps that’s it? Yeah, we think so. source
11:23 // 2 years ago
October 5, 2011
It may be too early now to talk about the Law of Unintended Consequences, but years from now, we may owe a debt to reforms like Dodd-Frank for finally weaning us off the physical wallet and encouraging us to experiment with the new technologies helping to create the Digital Wallet.
The Washington Post’s Dominic Basulto • Arguing that Dodd-Frank’s side effects — such as Bank of America's decision to start charging people for the right to use a debit card — will be great in the long run, because it will push consumers and businesses to stop relying on banks for these sorts of services, instead going for phone-based options, provided by companies such as Google or Square, instead. Basuito compares Bank of America's controversial move to Netflix's price-raising scheme, and suggests it will hurt them long-term. source (via • follow)
1:01 // 2 years ago
September 19, 2011
Google Wallet opens, but the odds you can actually use it are slim
- good Google has both Visa and MasterCard on board for its next-generation digital payments system, meaning they have a built-in infrastructure.
- bad While that infrastructure — in the hundreds of thousands of retail outlets — is pretty big, Visa and MasterCard reach tens of millions of retail outlets.
- worse In the short-term, only one network — Sprint — sells a device that’s actually compatible with Google Wallet. Own a Sprint Nexus S 4G? You’re in luck. source
20:03 // 2 years ago