Update: The arrival of Google Wallet has been announced for New Zealand
This is a pretty long video but is worth the watch and definitely something many small businesses should be keeping an eye on, particularly retailers.
My thanks to Vaughn Davis, at the Goat Farm, who I got this from.
Things to note:
- Mobile Payments were already at $170 billion in 2010, expected to hit $630 billion in 2014
- There are already 100,000,000 Android Smartphones in use.
- 50% of new phones are smartphones
- Google Wallet is already up and working -This is not a ‘vision’
- The opportunity of personalising loyalty programs through purchase history is significant
- This is an open platform which will add undreamed of aspects in future
- The open system means that the Google Wallet service will be free for retailers and business owners to use
- Google Wallet requires a phone with a security chip. If a customer has one of these, they will want to use it. -If not with you then with your competition.
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