MOBILE PAYMENT: Now not just NFC, new Google Wallet release ups the game

Google has announced a new version of its mobile payments platform, Google Wallet, which now allows users to send money to friends directly from credit and debit cards or a bank or Wallet balance; store loyalty cards and join related programs; and store and use Google Offers, Valpak coupons, and more.

“This represents a major upgrade for an application that, to date, has somewhat struggled to gain consumer adoption due to blocking measures from mobile operators in the U.S.,” observes Sarah Perez on TechCrunch. “Several of them are stalling to support the app while pushing forward their competing agendas involving the mobile payments platform called Isis.”

The new Google Wallet app is a significant update because now it won’t be limited to just NFC enabled smartphones, but all Android handsets. The restriction of the app being U.S. only remains of course.

“So, if you have Android 2.3 or higher, you can use the latest version of Google Wallet and to send money to any U.S. resident with an e-mail address (and 18+ age),” writes SaikatBasu on makeuseof. “Amounts can be transferred for free from your balance on Google Wallet, a linked bank account, or with the add-on of a slight charge — any linked debit or credit card.”

He adds: “The removal of the NFC restrictions for currency and credit transactions itself should see Google Wallet expand its user base and become a viable alternative to gateways like PayPal.”

Coming to Europe and ROW soon? Is this the future of ticketing payments?

What do you think? Join our discussions on LinkedIn or Twitter as we countdown to our Mobile Payments session at TTF14!