Google Wallet to give consumers spending money to drive use of mobile payments

Google Wallet

Google Wallet has announced that it will be giving consumers $10 to spend through its new NFC mobile payment service in the hopes to encourage its use, as it has – so far – had a slow start. According to the official blog of the company, “We’re excited to give you a chance to try out Google Wallet and experience paying with a mobile phone.” Google aims to offer this opportunity to customers at select retailers in five American cities ahead of the holiday season. Those cities are: Los Angeles,…

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In-Stat: Number of NFC-enabled mobile devices to exceed 1 billion by 2015, despite security concerns

NFC Technology Mobile Payments Infrastructure

Mobile commerce is a promising new industry that revolves around smart phones being used as payment devices. This is accomplished through NFC technology, which allows smart phones to interact with NFC terminals to make purchases. Mobile commerce is often lauded as a safe, streamlined way to pay for goods, but security concerns have, thus far, stifled the growth of the industry. Despite such concerns, In-Stat, a global market intelligence firm, predicts that there will be more than 1 billion NFC-enabled mobile devices by 2015. The security concerns surrounding NFC technology…

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