Google Wallet, the mobile payment service by Google is expected to be launched today.
At first, Google Wallet will support both Citi MasterCard and a Google Prepaid Card, which users will be able to fund with almost any payment card. From the outset, you’ll be able to tap your phone to pay wherever MasterCard PayPass is accepted. Google Wallet will also sync your Google Offers, which you’ll be able to redeem via NFC at participating SingleTap™ merchants, or by showing the barcode as you check out. Many merchants are working to integrate their offers and loyalty programs with Google Wallet.
While this will be the official launch, the product itself will likely still be quite limited. The only officially compatible phone till date is the Nexus S 4G, which is only available on Sprint in the U.S. Google has an NFC sticker product to bring tap-and-pay to other phones, but it’s not clear if that will be ready at launch or not. Hardware to enable the payments on the merchant end is also needed. And again, MasterCard has been the only official partner on the credit card side of things so far. Perhaps Google will have more to say on that while making the official announcement of the Wallet release.
It also makes sense for Google to get Wallet out there now before their next flagship Android phone, the Nexus Prime, launches next month.