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Author Topic: Google Wallet - this will fail  (Read 1905 times)
isthisthingon
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« on: May 27, 2011, 08:39:15 AM »

http://www.networkworld.com/news/2011/052611-google-wallet.html?hpg1=bn&source=NWWNLE_nlt_daily_am_2011-05-27

This feature isn't available for Android phones, yet. It's only available on Google's Sprint-based Nexus One and when it does make it to Android in general, it's going to be version 2.3 and higher. Additionally you need special hardware to support it and nothing currently but the Nexus One has it.

But that's not why this will fail, I predict. I think it will fail for many reasons but one obvious one is Google's track record with hardware. Another reason is simple useability. It's very common for people to pay for things with a bank card these days, or simply pay with one credit card. It's true that some people carry many credit cards around with them and find the process of selecting one tedious, but I think Google over-estimated the market size of these card-burdened shoppers.

But the problem is that for every purchase you will need to enter a code just like when you use your bank card. Additionally, you will either need to lean over the counter or hand them your smart phone to complete the transaction. What's more, your phone will break from time to time, run out of battery, etc. When was the last time your credit card(s) or debit/credit card just "broke?" Perhaps you had account trouble or a fraud hold on your card to verify purchases, but these elements will remain since the Google Wallet will be accessing those cards just like PayPal. So considering your bank card will rarely ever stop working on you, and all vendors already have that little key pad so you can enter your other secret code, what's the big gain here?

Not much. What's the downside? Well, Google will be monitoring your location to sell you things nearby. Although this is a desirable service to perhaps some people, especially frequent business travelers who want to know what's available nearby, it's also a creepy showstopper for others. And Google isn't making the tracking of your location and subsequent up-selling to you optional: it's required to use the service. Think about this though. The only people -aside from the tech curious- that really would want a service like this have multiple credit cards to consolidate and presumably plenty of money and/or credit to spend. I think those people have less of a desire to be constantly GEO-located and sold to - especially if the store nearby is selling prostitutes  Grin

Prediction: fail  Nerd
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perkiset
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« Reply #1 on: May 27, 2011, 09:02:20 AM »

I dunno. There's a tremendous amount of upside possibility for Google (and Apple that has had it's eyes on this for a long time, but is rumored to be holding out till more public acceptance comes along, or at least more terminals can do it - RIM and even Amazon are rumored to be trying to get there as well) because they can take a haircut on the way by. IOW, if Google can make a penny off every transaction made with their phone they just because a component of the finance stream. I think all of your points are valid, but there's going to be a lot of momentum pushed at this to make it work.

I'd not thought of all things you pointed out, having more thought of the autonomous possibilities, like wave the phone and a coke drops out of the machine, which is reasonably cool if you've no money. I'd been focusing on places that didn't have card support as a new way to use the phone for cash, rather than it being for a big ticket item. The extra step of entering a code when you have no money and want a coke may well be worth it. But you're right, I swipe, sign and am done for normal card transactions.

I wonder if this is a boardroom hit that is desperately looking for an audience, because I don't hear a lot of people screaming for the capability - although I'll be interested to hear NOP and Kurdts points because I believe that it may already be functional with some devices in their countries.

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« Reply #2 on: May 28, 2011, 06:42:11 AM »

I wonder if this is a boardroom hit that is desperately looking for an audience, because I don't hear a lot of people screaming for the capability - although I'll be interested to hear NOP and Kurdts points because I believe that it may already be functional with some devices in their countries.
Theoretically Globe has something like that. The implemented it 8+ years ago. It went no where Smiley
Basically it is now just a poor man's western union. Mainly used by people who work in manila to send money back to their families in manila.
Their transmission rates are much lower then western union, and you can send small amounts.
Even CC cards are not widely excepted.

Main reason is people like cash.
People still buy a lot of their food at the public market.
Even if you buy an expensive item like $10K+ the guy might ask you to pay cash Smiley
Also people are a little paranoid when it comes to these things.
The gov't would then be able to track how much businesses sell etc. And then they would be able to tax them Smiley

For things like a vending machine. They are relatively rare. Cheaper to hire someone to sell coke in bottles, then to buy the machine.
Except for KTV,slot machines and arcades and a few coffee machines, very few vending machines.

Maybe in America and Europe it may go, I have no idea Smiley
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