Liveblog: Google Wallet Event
May 26, 2011, 7:00 AM by Rich Brome @richbrome
updated May 26, 2011, 5:00 PM
Google is lifting the curtain on something big and phone-related today. Rumors are swirling about an NFC-based payment solution. We'll be on the scene to bring you full details as they're announced. Tune in at noon eastern (9am pacific) for our liveblog.
May 26, 2011, 12:19 PM: That's a wrap!
May 26, 2011, 12:18 PM: Google: "Once we feel the whole ecosystem is in place, we will start to market it." So it will be a while before we see ads on TV for this.
May 26, 2011, 12:16 PM: Google doesn't store transaction data, but will do store and use Offer data.
May 26, 2011, 12:15 PM: "Security is why we partnered with Citibank, First Data, and MasterCard."
May 26, 2011, 12:12 PM: International expansion: US first, then Europe, then Asia.
May 26, 2011, 12:11 PM: Google does make money (take a cut) on the Offers part, since that's basically advertising.
May 26, 2011, 12:11 PM: In the AE demo, the transaction still needed a signature. That's a retail decision, whether to require a signature, and at what dollar threshold.
May 26, 2011, 12:07 PM: Google: We want NFC in all of our Android phones, but will take some time to get to all carriers, etc.
May 26, 2011, 12:06 PM: Google: "We will partner with anyone." ...including Apple, RIM, to put this on iPhone, etc., if they have NFC, and "if they open up the APIs to allow that."
May 26, 2011, 12:05 PM: Security feature: we can de-provision your payments cards over the air, if your phone gets stolen.
May 26, 2011, 12:03 PM: (Q&A time)
May 26, 2011, 12:03 PM: Google will collect location and transaction data, in order to make targeted offers.
May 26, 2011, 12:03 PM: Google: "We're not making money in payments." They take a cut of nothing.
May 26, 2011, 12:02 PM: More merchants: Guess, Duane Reade, Radio Shack, Jamba Juice, Peet's, Bloomingdales, CVS, Sports Authority, Jack in the Box, Sunoco.
May 26, 2011, 11:57 AM: (feel-good video time, featuring retail partners)
May 26, 2011, 11:56 AM: "It will take some time to get this [technology] across our lineup."
May 26, 2011, 11:55 AM: Sprint mentioning NFC phones from Samsung, *Motorola*, and others....
May 26, 2011, 11:55 AM: Sprint: "We believe the carrier should not dictate the experience on the phone." That's quite a statement!
May 26, 2011, 11:53 AM: Sprint takes the stage.
May 26, 2011, 11:53 AM: In past few weeks, First Data enabled over 1,000 new merchants in NYC for Google Wallet.
May 26, 2011, 11:52 AM: 700 million (credit) card numbers on file with First Data. All ready to be moved to NFC.
May 26, 2011, 11:50 AM: 80% of POS payment systems in the US are provided by First Data.
May 26, 2011, 11:50 AM: First Data, explaining what they do. You use them whether you know it or not. They process over 40 billion transactions per year.
May 26, 2011, 11:48 AM: 1989: could not use credit card in super markets.
May 26, 2011, 11:48 AM: Ed Labry, President of First Data, on stage. Saying this day has been seen as inevitable for many years.
May 26, 2011, 11:46 AM: Ed McLaughlin from MasterCard on stage, saying how MasterCard is at the heart of this network, bringing all partners together. (Uh, not Google?)
May 26, 2011, 11:44 AM: Citi: "This is the inflection point. It starts today."
May 26, 2011, 11:42 AM: Wallgreens, Toys'R'Us, and Foot Locker also retail partners. And yes, The Container Store. Ahem.
May 26, 2011, 11:41 AM: One video showed Google Wallet app displaying "offers near me". Neat idea, but they're not promising that yet (video had big disclaimer at end saying it's "just a vision".)
May 26, 2011, 11:39 AM: Now time for partners to say how happy they are to be here, be part of this. First up: Citi.
May 26, 2011, 11:37 AM: No charges. All partners can join this system for free. (Really?)
May 26, 2011, 11:36 AM: Stressing that the platform is open... all carriers, banks, etc. welcome to join.
May 26, 2011, 11:34 AM: (demo video with lots of smiling people... and babies for good measure.)
May 26, 2011, 11:33 AM: Now demo-ing using NFC to receive offer/coupon. Touching Macy's poster to get discount coupon.
May 26, 2011, 11:32 AM: In future, may add "game" functionality, basically like FourSquare.
May 26, 2011, 11:31 AM: Receipts functionality coming "this fall."
May 26, 2011, 11:30 AM: One tap, and the phone paid for some American Eagle shorts, and applied a 20% discount coupon, and logged the AE rewards card.
May 26, 2011, 11:27 AM: Demo-ing American Eagle loyalty card in Google Wallet.
May 26, 2011, 11:26 AM: Demo-ing offers. Clicking discount offer on web causes it to appear instantly on phone under "saved offers" in Wallet app.
May 26, 2011, 11:25 AM: Walking around, NFC is disabled, to prevent skimming. When screen comes on, NFC comes on, but secure wallet part stays off. Secure wallet chip only comes on when actually using Google Wallet app and it's unlocked.
May 26, 2011, 11:23 AM: Tamper sensor causes NFC security chip to self-destruct. Special anti-laser protection. Really.
May 26, 2011, 11:22 AM: Now talking security.
May 26, 2011, 11:21 AM: Now demo-ing Google prepaid virtual card, which lets you add cash to your phone if you don't have a Citi MasterCard. Can be funded from any other credit, debit card.
May 26, 2011, 11:19 AM: Company called "First Data" acts as "trusted services manager" to verify account data, linking Google Wallet to each credit card, etc.
May 26, 2011, 11:17 AM: Google Wallet requires Google Account. No surprise. Requirement is "a layer of security". Process also adds a PIN to your Google Account, for security.
May 26, 2011, 11:16 AM: Demo time. Using a phone for payments on stage.
May 26, 2011, 11:15 AM: Osama Bedier, VP of Payments for Google, on stage.
May 26, 2011, 11:15 AM: ...flight boarding passes, etc.
May 26, 2011, 11:14 AM: Eventually, Google Wallet will support hotel keys, event tickets, and more.
May 26, 2011, 11:13 AM: Google Offers starts with offer of the day, accessible through apps and other sources. Trial starts in NYC, SF, and Portland.
May 26, 2011, 11:13 AM: First Wallet release supports cards, offers, loyalty programs, and gift cards, all used in a single tap.
May 26, 2011, 11:12 AM: Macy's and Subway among trial partners.
May 26, 2011, 11:12 AM: Trial starts in SF and NYC... nationally in coming months.
May 26, 2011, 11:11 AM: Multiple locking options, to keep cash secure.
May 26, 2011, 11:11 AM: Google Wallet support multiple cards. Citi MasterCard, plus Google card you can fund from any source of cash.
May 26, 2011, 11:10 AM: Google Wallet trial starts today, launching this summer. Uses NFC.
May 26, 2011, 11:09 AM: Receipt on your phone, too.
May 26, 2011, 11:09 AM: When checking out, just tap phone, and loyalty programs (supermarket discount card, etc.) are automatically part of the transaction.
May 26, 2011, 11:09 AM: If item is out of stock, you can have it shipped to your house...as you shop.
May 26, 2011, 11:08 AM: Example process starts with shopping list on smartphone. Offers pop up as you shop.
May 26, 2011, 11:07 AM: Sprint, Citi, MasterCard are among Google Wallet partners.
May 26, 2011, 11:07 AM: Stephanie back on stage.
May 26, 2011, 11:06 AM: Google Wallet integrates fully with MasterCard PayPass.
May 26, 2011, 11:05 AM: Today, over 300,000 merchant locations are ready for NFC-based Google Wallet; 120,000 in US alone.
May 26, 2011, 11:04 AM: Ed McLaughlin, Chief Emerging Payments Officer of MasterCard.
May 26, 2011, 11:04 AM: MasterCard exec on stage now.
May 26, 2011, 11:03 AM: NFC and GPS together will allow mobile technology to impact commerce in a way e-commerce hasn't.
May 26, 2011, 11:03 AM: (history of e-commerce, consumer comfort with going online...) but still only 8% of commerce is online
May 26, 2011, 11:01 AM: This is an open platform for payments and offers at point of sale. Uses your phone. "Tap, pay and save."
May 26, 2011, 11:00 AM: Announcing: Google Wallet and Google Offers.
May 26, 2011, 10:59 AM: Stephanie Tilenius, VP of Commerce, is on stage. This is about mobile and local commerce.
May 26, 2011, 10:59 AM: The event is starting... I think. There's a woman just standing center stage awkwardly.
May 26, 2011, 10:54 AM: MasterCard people are here...
May 26, 2011, 10:48 AM: We're seated right up front in the Google auditorium. The event - and our live coverage - starts in just under 15 minutes.
May 26, 2011, 10:47 AM: Google's NYC offices look like any modern NYC office... just in Google's signature primary colors.
May 26, 2011, 10:11 AM: We're registered and in the building for todays Google event.
About the author, Rich Brome:Editor in Chief Rich became fascinated with cell phones in 1999, creating mobile web sites for phones with tiny black-and-white displays and obsessing over new phone models. Realizing a need for better info about phones, he started Phone Scoop in 2001, and has been helming the site ever since. Rich has spent two decades researching and covering every detail of the phone industry, traveling the world to tour factories, interview CEOs, and get every last spec and photo Phone Scoop readers have come to expect. As an industry veteran, Rich is a respected voice on phone technology of the past, present, and future.
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Comments
Ooooh NFC,. . .yeah!!!!!
