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Google Wallet
Key Highlights
•   What is Google Wallet
•   How it Works
•   Google Wallet & Security
•   Business Model used by Google
•   Merchants in collaboration with Google Wallet
•   Future trend of Mobile Payment via NFC
What is Google Wallet
• It is a payment system developed by Google
  that allows the users to store payment, loyalty
  & credit cards. It also offers redemption of
  sale promotion coupons on the phone and
  online. In short one can say it is a virtual
  wallet.
• For fast, convenient and secure payments
  Google Wallet uses near field communication
  (NFC), wherein the user simply taps the phone
  on any PayPass-enabled terminal at checkout .
How it Works
           Use it in-Store                             Use it Online




Look for PayPass sign at the checkout        Look for either of the above shown buttons
counter, tap the phone on the reader. The    at the checkout and click to pay via signing
phone sends payment & at some                in into your account
merchants offers loyalty information and
much more.
                      Google Wallet supports two kinds of cards:
                         1)Citi (R) MasterCard (R) credit cards
                               2) Google Prepaid Card
Google Wallet & Security
 A stolen debit card can be used without its PIN
 but Google Wallet doesn't work without a PIN
Additional security features:
• Google Wallet stores encrypted user information
  on a computer chip called the Secure Element.
• The Android device itself can be locked with
  a personal identification number (PIN).
• The Google Wallet app requires an additional PIN
  to activate the NFC chip antenna.
• The Google Wallet device must touch or be in
  close proximity to a MasterCard PayPass reader.
• Once the transaction is completed, the antenna is
  turned off. Additional transactions require the
  PIN to be entered again.
Business Model
No charges for the users and merchants who
access Google wallet, instead Google is planning
to make money by offering sponsored ads to
their users. Two types of offers will be available
for the users via Google Shopper:
•Today's offers: which allows the user to see a
single offer redeemable for discounted goods or
services in their area.
•Nearby offers: which allows the user to see a
list of offers in the 'Eat' and 'Play' categories that
nearby businesses have submitted through
Google Places.
Merchants
Store Merchants    Online Merchants
Future Trends
• 240 billion dollars annual mobile payment transactions
  which according to Juniper will grow 2x to 3x in next 5
  years.
• By 2013 sale of NFC phones will exceed $ 80 billion &
  every 1 in 5 cell phones worldwide would use NFC
  technology
• Google predicts by 2014 50% of cell phones will use
  NFC technology & NFC transactions alone will cross $
  50 billion mark
• Mobile money transactions will reach $ 700 billion by
  2015
Looking at the future trends, it is safe to say that very soon the
credit cards and leather wallets will get replaced by
smartphones and the smartphone will become the Wallet
Google wallet

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Google wallet

  • 2. Key Highlights • What is Google Wallet • How it Works • Google Wallet & Security • Business Model used by Google • Merchants in collaboration with Google Wallet • Future trend of Mobile Payment via NFC
  • 3. What is Google Wallet • It is a payment system developed by Google that allows the users to store payment, loyalty & credit cards. It also offers redemption of sale promotion coupons on the phone and online. In short one can say it is a virtual wallet. • For fast, convenient and secure payments Google Wallet uses near field communication (NFC), wherein the user simply taps the phone on any PayPass-enabled terminal at checkout .
  • 4. How it Works Use it in-Store Use it Online Look for PayPass sign at the checkout Look for either of the above shown buttons counter, tap the phone on the reader. The at the checkout and click to pay via signing phone sends payment & at some in into your account merchants offers loyalty information and much more. Google Wallet supports two kinds of cards: 1)Citi (R) MasterCard (R) credit cards 2) Google Prepaid Card
  • 5. Google Wallet & Security A stolen debit card can be used without its PIN but Google Wallet doesn't work without a PIN Additional security features: • Google Wallet stores encrypted user information on a computer chip called the Secure Element. • The Android device itself can be locked with a personal identification number (PIN). • The Google Wallet app requires an additional PIN to activate the NFC chip antenna. • The Google Wallet device must touch or be in close proximity to a MasterCard PayPass reader. • Once the transaction is completed, the antenna is turned off. Additional transactions require the PIN to be entered again.
  • 6. Business Model No charges for the users and merchants who access Google wallet, instead Google is planning to make money by offering sponsored ads to their users. Two types of offers will be available for the users via Google Shopper: •Today's offers: which allows the user to see a single offer redeemable for discounted goods or services in their area. •Nearby offers: which allows the user to see a list of offers in the 'Eat' and 'Play' categories that nearby businesses have submitted through Google Places.
  • 7. Merchants Store Merchants Online Merchants
  • 8. Future Trends • 240 billion dollars annual mobile payment transactions which according to Juniper will grow 2x to 3x in next 5 years. • By 2013 sale of NFC phones will exceed $ 80 billion & every 1 in 5 cell phones worldwide would use NFC technology • Google predicts by 2014 50% of cell phones will use NFC technology & NFC transactions alone will cross $ 50 billion mark • Mobile money transactions will reach $ 700 billion by 2015 Looking at the future trends, it is safe to say that very soon the credit cards and leather wallets will get replaced by smartphones and the smartphone will become the Wallet