Google Planning Wallet Revival At Google I/O
David Curry | | Feb 21, 2015 07:52 PM EST |
(Photo : Google) Google is planning to revive the failed mobile payments service at its developer conference.
Google could be preparing a revival of Wallet, the mobile payments service that failed to get off the ground when the search giant first launched because U.S. carriers blocked its expansion and European regulations stopped it from growing.
The revival of Wallet will include bringing U.S. carriers into line by offering them a small share of the advertising revenue from phone searches.
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AT&T and Verizon Wireless have both shown they want some of that Google ad-money and Google's now offering that on a silver platter. All the carriers need to do is make Wallet a big competitor against Apple Pay.
Having U.S. carriers on Google's side is one thing but the revival will also include partnerships with international banks like VISA and MasterCard. Google is also reportedly in talks with Bank of America and American Express.
Android OEM partners are being contacted by Google to promote the Wallet app more prominently, regardless of whether they have their own payments services. This is one of the first real signs of Google forcing its OEM partners in line.
This aggressive tactic could work for Google that has previously been blamed for being too passive with services, leading to other companies winning the market.
Google needs to consider Samsung is working on its own payments service after acquiring LoopPay for $200 million. The payments service might launch alongside the Galaxy S6 before the Wallet revival at Google I/O.
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