Description: Plenty of companies would love to get their hands on our wallets. But Google wants to go one step further: it wants to be our wallets.
Date: Sept 21, 2011
Its new phone software, called Google Wallet, is intended to replace the credit cards in our actual wallets.
It does sound pretty spectacular, doesn’t it? No fishing plastic cards out of wallets, no paper slips, no signatures. Everything is handled securely, instantly, conveniently, with one tap of your phone at the register.
Europeans and Asians already routinely pay for things that way. Why can’t we have that in America?
Questions for discussion:
- Do you think this new technology will succeed in being adopted on a wide scale? Why? Or Why Not?
- If you were Google what strategy could you employ to keep competitors and substitutes out of this market?