Google Wallet 2.0 Underway (Of Course)

by Mercator Advisory Group 0

A “no surprise” rumor to anyone watching Google’s struggles with its Wallet initiative, speculation is rife that Google is working on a more cloud-based approach. That makes sense for a number of reasons:

  • First, access to the NFC chipset on most U.S. phones looks to be strictly controlled by Isis and its partners, effectively locking Google out.
  • Sprint, which has uniquely supported Google Wallet, is also putting out its own wallet called Touch.
  • Cloud-based payments are more straightforward from a deployment point of view because of their comparatively less complex ecosystem.

Google is, first and foremost, a cloud company so leveraging that strength makes sense, especially when the competition is making it so hard to play in the NFC arena. Of course, Google’s already gotten this message. It renamed Google Checkout to Wallet six months ago. Between staff turnover and the competitive barriers, Google needs a Wallet 2.0 strategy.

We may learn a lot more by the end of the month when Google’s I/O developer conference takes place. From The Verge:

Meanwhile, Google is believed to be working on Wallet 2.0, which will put more emphasis on cloud-based payments, offers, and promotions than its current iteration. The recent acquisition of payment technology company TxVia should theoretically help Google push adoption but, without any carriers on board, the attempt may be in vain. Google I/O will be taking place later this month, where we will surely hear more about plans for Wallet — whether or not Sprint will still on board by that time remains to be seen.

Click here to read more from The Verge.