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Google discusses Wallet plans

October.22.2014 0 Comments


Google has talked about its plans with regard to its Google Wallet app and mobile payments, hinting at possible partnerships and insisting that the company is still trying to “get it right.”

“I think our goal here is really achieving mass merchant adoption so the availability of these NFC devices is really about that and also, making it easier for consumers to replace their wallets with their smartphones, hopefully more and more over time,” Omid Kordestani, Google’s interim chief business officer, explained to investors during the company’s third quarter earnings call on 16 October.

“So reducing friction in everyday shopping experiences is how we approach it and the focus on the user, and we’re really developing a fully functional payments system.”

“As you may know, users can send money today to friends through Gmail using their wallet app, we have loyalty and gift cards that can be stored in the wallet app and the Buy with Google button makes it possible for users to make purchases very quickly with two clicks,” Kordestani continued. “So again, it’s this two-fronted focus on merchant adoption and removing the friction for users.”

“I think we’re going to continue to be open here,” he added when asked about the possibility of a third party’s wallet being able to succeed on Android. “So, we are trying to get it right and innovating on multiple fronts as I mentioned earlier and if partnering makes sense, we’ll take a look at it as well. The goal is here really to provide this very seamless experience for the users and to get this merchant adoption and hopefully, get this right.

“I’m certainly delighted every time I use this and it works and I think if we can all get the ecosystem right and there are multiple players in it and partnerships that are making it happen, we’re definitely open to that.”