As Google Wallet rolls out into the US markets, identifying and reinforcing its strengths will allow this technology to become the innovation of the century.Google Wallet has to create a new market standard to overcome the early adapter cycle, separating itself from the small niche segment.
Here are the top 5 strengths that aids the success of Google Wallet.
1) NFC will no doubt become mainstream, predicted to exist in all product and devices.
2) Consolidation of currency, digital credit, loyalty, and coupons into one device. Note to Google: Create a plugin to allow the user to see all balance on their credit and debit accounts with a click of a button.
3) NFC chips offers more security protection for lost or stolen credit/debit information then traditional plastic cards. Card readers easily steal account information off plastic cards, whereas NFC chips will not activate with a user pin.
4) Ever had to print out a receipt to pay for a item you bought online to show proof of purchase? Google Wallet Payments holds that receipt information when purchase is made on the computer.
5) Google Wallet empowers the consumer instead of the retail. The app allows the consumer to swipe the item and compare prices local prices, with directions from Google Maps.