„“Today, we’ve joined with leaders in the industry to build the next generation of mobile commerce,““ said Stephanie Tilenius, vice president, commerce and payments, Google. „“With Citi, MasterCard, First Data and Sprint we’re building an open commerce ecosystem that for the first time will make it possible for you to pay with an NFC wallet and redeem consumer promotions all in one tap, while shopping offline.““ Google Wallet is currently in a field test and will be available to consumers this summer. At the event, Google, Citi, MasterCard, First Data and Sprint introduced Google Wallet and invited additional issuing banks, payment networks, mobile carriers, handset manufacturers, point of sale systems companies and merchants to join the initiative. At commercial launch, Google Wallet will support payments with two payment solutions: a PayPass eligible Citi MasterCard and a virtual Google Prepaid card. Most people who already have a PayPass eligible Citi MasterCard can simply add it to Google Wallet over the air, using First Data’s trusted service manager service. Or, they can fund the Google Prepaid card with any payment card. Google Wallet uses near field communication (NFC) to make secure payments fast and convenient by simply tapping the phone on any PayPass-enabled terminal at checkout. Google Wallet is engineered to enable secure payments and goes beyond what’s possible with traditional wallets and cards. It will require an app-specific PIN and in the first release, all payment card credentials will be encrypted and stored on a chip, called the secure element, that is separate from the Android device memory and is only accessible by authorized programs. Google Wallet is built to work with the fast growing MasterCard PayPass network – a merchant point of sale service that enables consumers to tap to pay. As a result, Google Wallet will immediately be accepted at more than 124,000 PayPass-enabled merchants nationally and more than 311,000 globally. „“MasterCard has pioneered mobile payments with our PayPass technology and we’re proud that it is at the heart of Google Wallet,““ said Ed McLaughlin, chief emerging payments officer, MasterCard. „“We’re excited to partner with these industry leaders today and committed to continuing to play a leadership role in the development of mobile payment technologies.““ Google is also working with point of sale systems companies and top retail brands to create a new SingleTap shopping experience. Consumers will be able to pay for an item using a credit card or gift card, redeem promotions and earn loyalty points—all with a single tap of their Google Wallet. Google is working with VeriFone, Hypercom, Ingenico, VIVOTech and others to develop these next generation point of sale systems. Retailers participating in the new SingleTap experience include: American Eagle Outfitters, Bloomingdale’s, Champs Sports, The Container Store, Duane Reade, Einstein Bros. Bagels, Foot Locker, Guess, Jamba Juice, Macy’s, Noah’s Bagels, Peet’s Coffee & Tea, RadioShack, Subway, Toys““R““Us and Walgreens. The first Google Wallet field tests are focused in New York and San Francisco, where many retailers, Coca-Cola vending machines and even taxis are PayPass-enabled, including major outlets such as CVS, Jack in the Box, Sports Authority and Sunoco. First Data, a leading company in electronic commerce and payment processing, is actively recruiting thousands of new merchants in these areas and will soon expand those efforts to deploy more contactless merchant terminals across the country. The payments industry has known for some time that it was not a question of if, but when true mobile commerce would become a reality. We believe today is the day that mobile meets payments,““ said Ed Labry, president, North America, First Data. „“We’re proud to play a central role in Google Wallet and to bring innovative technology such as Trusted Service Management and contactless acceptance to our clients.““ Google has also been testing a variety of consumer deals that can range from a 20-percent discount on a new pair of boots discovered on a Google search advertisement; to a 5 Dollars off check-in offer received upon entering a store; to a „“deal of the day““ offering a 20 Dollars lunch for 10 Dollars at a local restaurant. Whenever you buy or save an offer, you will be able to automatically sync it to Google Wallet. At most stores you will be able to use Google Wallet to show your offer at the register, where the cashier will either scan it or manually type it in. At participating Google SingleTap merchants, you will be able to pay and redeem an offer with one tap of your mobile device. Because Google Wallet is a mobile app, it will eventually be able to do more than a regular wallet ever could – but without the bulk. Google Wallet will start with offers, loyalty and gift cards but plans that some day items like receipts, boarding passes and tickets will all be seamlessly synced to Google Wallet. „“We are delighted to be the first carrier to sign on as a partner with Google to deliver Google Wallet,““ said Fared Adib, senior vice president of product development, Sprint. „“As a leading innovator and proponent of „“open”, we are proud that Nexus S 4G is the first smartphone with Google Wallet and we look forward to deploying Google Wallet on many of our upcoming Android phones.““ The first release of Google Wallet is expected to be released on the Nexus S 4G on the Sprint network. Additional devices with NFC capabilities are already planned to follow. www.google.com/wallet www.firstdata.com