Google seems to be launching a gamut of new products this year. Weeks ago, Google's social plugin, +1, was trending topic among the SEO and Social Media circles. But before Google +1 and Google Circles join the social media wars, Google just launched Google Wallet yesterday, Google's Commerce VP Stephanie Tilenius announced that the company wants to offer the best shopping experience and introduce users to an open payments platform which will “bring online and offline together. As ecommerce sites and mobile banking becomes a popular means to for online purchases, Google aims to usher the future of online shopping. Google Wallet will have offers, payments, and social experience work in synergy.
Tilenius looks to officially launch Google Wallet by summer. Google Wallet will support multiple credit card account; Citi Mastercard and Google pre-paid card will be supported to kickstart the product. Eventually, other cards will be available as well. According to Tilenius, “You tap, pay and save” with NFC-enabled devices, which will number about 150 million later this year.
Among the retailers who will break the ice and dishing out offers are: Subway, Macy's, American Eagle, and Noah's Bagels. Google Wallet will have gift cards, store offers, and loyalty cards as well. Google Offers will be delivered as Deals of the Day which can be accessed through Google Wallet and Gmail. Google Offers will go live in New York, Portland, and San Francisco this summer. The most interesting and genius aspect of Google Offers is that there'll be check-in offers, offer ads, and Google Places offers for local businesses as well. It's like Paypal, Foursquare, and Groupon all rolled into one.
And speaking of Paypal, it considers Google Wallet a threat. The online payment giant has sued Google after yesterday's launch. Sources from GigaOm claim that PayPal is developing and about to launch a similar system soon. Osama Bedier, former executive at PayPal, has been accused of bringing the extensive knowledge behind PayPal's new product for the mobile payments space. PayPal believes it's the same formula that lead to the creation of Google Wallet. Nevertheless, Google Wallet and Google Offers will be launched soon, and we'll see how Groupon and Foursquare will react as well.