The following is an excerpt from Quentin Fottrell | August 30, 2012 | Smartmoney.com |
Consumers have been slow to cut up their credit cards and turn on their mobile wallets. But this week, Google Wallet announced a string of features that – to make the proposition more enticing – let mobile wallets do things plastic credit cards don’t.
Google Wallet product managers say they will provide I.D. verification so people can check in for a flight, download virtual boarding passes, and even keep their driver’s license on their mobile phone. (Google declined to say when these features would become available or how many people have downloaded the app thus far.) Through its location-based GPS technology, it already sends shoppers coupons and real-time offers from nearby stores. Experts say these features should finally drive demand for the app. “It offers compelling convenience for consumers and retailers,” says Ben Woolsey, spokesman for credit-card comparison site CreditCards.com.
Just like the Apple’s forthcoming Passbook app, which is due for release with the iPhone 5 next month, Goo will allow consumers to download loyalty cards, money-off coupons and movie and concert e-tickets directly to the phone. Currently, the app supports MasterCard, Visa and Discover debit and credit cards and works in 200,000 locations nationwide. “We want you to be able to leave your leather wallet at home,” Robin Dua, Google Wallet’s head of product management, told a Web conference this week.
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