The Social Payment
Google Wallet and Mobile Offers
What it does:
NFC payments ecosystem formed in partnership between Google, Citibank, MasterCard, Sprint and First Data that enables contactless payments using a smartphone; One-touch merchant loyalty and special offers; Stored-value payments.
Eliminates need to carry cards; Leverages existing PayPass system of touch-to-pay; Incorporates coupons and merchant deals, as well as loyalty program into ecosystem; Built on open standards.
Limited availability of NFC-enabled devices.