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Posted by Charles Golvin on May 26, 2011
Today Google announced its Google Wallet product, along with partners Sprint, Citi, MasterCard, and First Data (Forrester clients can read our more detailed take on this announcement here). While Google Wallet will initially support Citi-branded MasterCards, the product is open and will accept payment solutions from multiple networks and issuers. Google introduced its Wallet by saying, “This is just starting,” and Google’s right — the path to the new world of transactions that the company painted will be a long and arduous one for consumer product strategists. Why?
In this light, Google Offers is the more important announcement, because Offers is what will help catalyze the slow change in consumer behavior by offering additional value tied to Google Wallet transactions. And after all, Google isn’t after the payments themselves; it’s after the associated data tied to the entire commerce process since that’s what it will monetize.
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