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Google Wallet strikes deal with wireless carriers

2015-02-24 10:09 by
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Google has made a deal with AT&T, T-Mobile USA and Verizon Wireless which will allow the search giant to pre-install its Google Wallet payment service on Android devices sold by those carriers in the U.S. Only devices running KitKat or higher will benefit from the service. The first devices, featuring Google Wallet are expected to emerge later this year.

In addition to the deal, Google will also buy some "technology and intellectual property" from Softcard, which has been offering its own mobile payments tool since 2012.

Ironically, Softcard (the former ISIS) was founded by the aforementioned three carriers in 2010 with the aim to be a mobile payment competitor to Google Wallet and to provide carriers with better control over consumers payments with their phones.

Google will probably benefit the most from the deal, because installing its Wallet on Android phones makes it far more likely that people will actually use it. It also gives the company a stronger position to challenge Apple Pay, the mobile payments system introduced on the latest iPhones last year.

Read more -here-

 

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