It's baack, we have blogged about it before, but now it walks among us, so it seems time to revisit Google Wallet. It is the first smart phone app, only available on a very select few smart phone models, that allows you to complete payment transactions using your phone, instead of a credit card, or the prehistoric form of payment, cash. Google wallet is revolutionizing commerce, and how people recieve rewards. Imagine how easy it would be for a company running a health and wellness program to simply place electronic CVS/Pharmacy gift cards in their employees' Google Wallet accounts, instead of going through the hassle of ordering physical cards, and having to have the cards activated. As revolutionizing as Google Wallet could be, it will still take time to catch on. For one, it is not yet widely available, and it would be a bit of a stretch to say that people will switch cell phones, or even carriers for this technology. Additionally, it remains to be seen how many consumers will actually use the technology, given that a wide margin have expressed discomfort in using mobile technology for financial purposes, give the possibilities of identity theft and hacking. Google Wallet will revolutionize commerce, and the face of the gift card industry, just not immediately.
For more information on Google Wallet, from someone who has actually tested the technology, click here