Google is betting big on Google Wallet as a way to tap the local-business advertising market. The app–which relies on technology called near-field communication, or NFC–acts like an electronic wallet, letting people make payments in stores using their phones as well as redeem digital coupons at retailers and earn loyalty-program points.
The payment system can allow Google to offer retailers more data about their customers and help retailers target ads and discount offers to mobile-device users near their stores.
Carriers “are clearly scared of what Google is doing,” said Nick Holland, an analyst at the Yankee Group.
Hubbard remarks, “Interesting. No mention of PayPal…”