Google introduces its NFC payment app – the Google Wallet

Google has launched its mobile payment app codenamed the Google wallet. This app is akin to Nokia money and helps people simply tap and pay for the products and services they consume. In addition to MasterCard, Google has also partnered with First Data and Citibank.

For all its initial users, Google is providing a Google Prepaid card that can be integrated with any debit/credit card. According to ZDNet, early user of the app would get $10 free in their Google Prepaid card.

Google has stated that Google Wallet would be an open-ended app. Visa, American Express and Discover are also working towards becoming NFC compatible adding to the list of providers.

According to rumors, Google has stared to receive $50-$75,000 payments on the Wallet and the number is expected to ho higher soon.

Google, with this app, is riding on two boats – NFC and 4G. Currently, not every smartphone boasts of an embedded NFC chip or even a 4G-capability.

But, since its Google, we do expect fireworks as soon as the app starts getting popular.

Currently the app is headed to UK and Europe, but we hope it reaches India soon.

Google has already syndicated its Android market to suit Indian requirements. We hope it has a similar kind of initiative for the Google Wallet app.

We would like to add the app is supposed to live up to its name as you need money in your wallet to buy a supportive device. NFC-supportive devices in India currently cost at least 25 K.

Know Your Mobile will keep you updated with all developments regarding Google’s mobile devices, apps and OSs.