Tag Archives: Google Wallet Carriers Isis Banks Mobile Payments Commerce

Trouble brewing for Google Wallet

I believe in Google’s capability to actually pull off mobile payments. I believe they do get it. With all its initial failings, its misplaced loyalty towards NFC and the existing payment rails, I believe they truly have a shot at fixing payments and closing the loop in local commerce. Let’s look at what is going right for them: Android is fast becoming the dominant ecosystem on mobile, with over 200 Million devices so far, and 550k activations happening each day. They have made Android a force of nature, that is now slowly eating away at Apple’s market share. They have a mobile wallet initiative out at front, at least more than a year before the closest competitor they have – in Isis. They have had some notable successes with retailers (for e.g. Gap) and has partnered with NJ transit for payments. Formidable partnerships with Citi, FirstData and MC should be all that is enough to prod more issuers in to joining Google Wallet. Despite all this momentum, Google Wallet does not seem to be having a good day so far. Continue reading