Watch out, Google Wallet. There's a new mobile-payment service in the works.
A consortium of of retailers today announced that they have launched a mobile-commerce company, called Merchant Customer Exchange (MCX). Best Buy, Target, Wal-Mart, and Lowe's are among the many companies that have signed up for the initiative. The companies combine to generate a whopping $1 trillion in sales each year.
The retailers' move could spell trouble for Google's fledgling Wallet mobile-payment app. Google Wallet runs on Android-based devices and allows customers with certain smartphones to pay for purchases from the handset. Google Wallet has so far been slow to roll out. However, until now, it was facing few competitors.
With MCX on the way, Google might find it a bit more difficult to expand its offering. Google is forced to partner with merchants and credit card companies to get its service up and running. With so many major retailers signing on to MCX, they might not want to partner with Google on Wallet.
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My view is there are way too many options. GW will likely have a few trials along the way. And this new system will also have its share of hacks, cracks and break-ins along the way.
I prefer one credit card only. So much easier and absolutely no way will I ever put banking info or apps on my phone.
Cash always works and in this economy, a pile of hundreds often gets you a better deal.
Watch out, Google Wallet. There's a new mobile-payment service in the works.
A consortium of of retailers today announced that they have launched a mobile-commerce company, called Merchant Customer Exchange (MCX). Best Buy, Target, Wal-Mart, and Lowe's are among the many companies that have signed up for the initiative. The companies combine to generate a whopping $1 trillion in sales each year.
The retailers' move could spell trouble for Google's fledgling Wallet mobile-payment app. Google Wallet runs on Android-based devices and allows customers with certain smartphones to pay for purchases from the handset. Google Wallet has so far been slow to roll out. However, until now, it was facing few competitors.
With MCX on the way, Google might find it a bit more difficult to expand its offering. Google is forced to partner with merchants and credit card companies to get its service up and running. With so many major retailers signing on to MCX, they might not want to partner with Google on Wallet.
Gotta love your "Action News" title for this thread.
I think there is enough space for all. Over the past few weeks google upgraded the wallet program and we know have the option to use various card not just mastercard.
Too me, the problem is there aren't enough retailers with the hardware in store so that customers can use "tap and go" services.
I think this is a retailers' issue with procuring the hardware in retail locations. I would love to use tap and go when I shop but outside of drug stores, gas stations and a few other venues, not many retailers have the hardware.
I would to go out to a bar and just be able to tap for my purchases. Too me this is a huge convenience that could save me time when fully rolled out.
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Quote:
Originally Posted by Bob Maxey
My view is there are way too many options. GW will likely have a few trials along the way. And this new system will also have its share of hacks, cracks and break-ins along the way.
I prefer one credit card only. So much easier and absolutely no way will I ever put banking info or apps on my phone.
Cash always works and in this economy, a pile of hundreds often gets you a better deal.
I thought like that as well. But I tried it out after the latest update. If you've purchased an item on google play, the wallet functions the same way.
In order to access your card info, a person would have to know the PIN for you phone and for the wallet app.
This new service has the 500 pound gorilla of Wal Mart behind it, which is huge, since they likely won't support any competitors. Also, Apple is working on their own service, and you know they'll trick everyone into thinking its cool and revolutionary all of a sudden. Personally, I've never even seen anybody use Google Wallet. But having this new service in every checkout in every Walmart will make it hard for anybody to compete with.
Last edited by Gmash; August 17th, 2012 at 09:12 PM.
I may look into this too. Ever since Google Play replaced my "Bill to my AT&T account" with "Redeem". I've called AT&T and had estensive troubleshooting done to try and get the option back and to no avail. ATT could not revert the setting thats controled at the Google end of things.
Got intouch with Google (at least i think they were real people), and got the same response 4 times , that it was the carier and the same checkpoints which were all nonesense.
I knew it must not be a real person responding to the body of the "online-controlled droplist of options" when reporting the issue because they only responded to those selected items and not the coments posted that said ive done all the items listed.
I looked online and find that this isnt carrier-specific, theres a bug that Google Play has and Google refuses to acknowledge it or correct it.
So, since theres no support from google, i now I aint buying another app with my credit card and i AINT purchasing or giving out remeems. I will live with the free apps. Things wont always stay the same, when something else comes out, i'm jumping on it.
Beginning of the End For Google Wallet?
