Google along with Citi, MasterCard, First Data and Sprint offered to the public today a small demo of a future app called Google Wallet.
This technology is based on NFC (near field communication), which was introduced to us by Google at the Google I/O in San Francisco this month. With this technology you will be able to tap, pay and save using your phone.
“Google Wallet is a key part of our ongoing effort to improve shopping for both businesses and consumers. It’s aimed at making it easier for you to pay for and save on the goods you want, while giving merchants more ways to offer coupons and loyalty programs to customers, as well as bridging the gap between online and offline commerce.
Because Google Wallet is a mobile app, it will do more than a regular wallet ever could. You’ll be able to store your credit cards, offers, loyalty cards and gift cards, but without the bulk. When you tap to pay, your phone will also automatically redeem offers and earn loyalty points for you. Someday, even things like boarding passes, tickets, ID and keys could be stored in Google Wallet.”
More details on this @Google/Wallet http://www.google.com/wallet/