This past February in Barcelona at Mobile World Congress, Google Executive Chairman (CEO at the time), Eric Schmidt delivered a keynote where he spoke very highly of both NFC and Google Wallet. Schmidt is envisioning a time when you won’t need to carry a wallet, just your phone. Schmidt gave a great example of how the entire scope of the technology will work.
More after the break
We called this example the “pair of pants” example. Schmidt talked about how one day he will be able to go to his favorite spot for lunch and afterwards while strolling down the sidewalk he will be able to receive an instant, hyper local ad that tells him pants are on sale at his favorite store. The store will already know the style he likes, the prices and discounts he likes to get and have everything waiting when he arrives. Best of all he won’t have to dig through his pockets to find his wallet and pick a card, it’s all on the phone.
Later in the year at a presentation at D9 Google Wallet was explained even more indepth. Customers will be able to scan barcodes in stores for exclusive offers, add the offer to their rewards card and then pay with their credit card all using NFC in their Android phone.
Google has officially released Google Wallet in a limited release. The current version of Google Wallet supports cards from Citibank baring the Mastercard logo. Google did say that they are in negotiations and had received the NFC specifications for Visa, American Express and Discover so that they can prepare the next phase of Google Wallet.
The Google Wallet update is coming to Sprint Nexus S 4G via an over the air update and should take just 4 days to fully complete. You should be able to see the update available in your settings.