Google Working With Three U.S. Carriers on Wallet Relaunch
David Curry | | Feb 24, 2015 09:41 AM EST |
Google is working with AT&T, Verizon and T-Mobile to win the U.S. payments market.
Google has reportedly made a distribution deal with the three major U.S. carriers -- AT&T, Verizon Wireless and T-Mobile USA -- to preinstall Google Wallet on all Android devices.
The deal comes a few months before a planned re-launch of Google Wallet to compete heavily in the U.S. mobile payments market against Apple Pay and Samsung's planned service.
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In order to bank on everything going according to plan, Google also took the U.S. carriers own service -- SoftCard -- off the grid by acquiring it for under $100 million.
This does mean Google Wallet will come preinstalled on all four carriers. Sprint already carried the payments service well before the deal.
This doesn't give Google leverage over the U.S. market however. Apple Pay preinstalled on all iPhones accounted for more sales in Q4 2014 than all Android devices combined.
Google does get a chance to actually offer the service on all U.S. carriers and this could bring larger adoption than in the past four years when it was banned.
The re-launch in 2015 might offer more banking services to compete with the likes of PayPal as well but these have not been announced. Google also needs to find a way for retailers to adopt contactless payment or switch to another reader option.
Wallet will remain in the U.S. for most of 2015 even with the launch of Apple Pay in the UK and other European countries in the upcoming months. China is another region where Apple is neutral with the government while Google lacks any correspondence.
Google has to work out the issues with Samsung's own payments service potentially coming on the Galaxy S6 that will feature LoopPay's credit card reader system that connects to 90 percent of all cash readers in the U.S.
Tags Google Wallet, AT&T, Verizon wireless, T-Mobile, Softcard
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