Google Wallet alternatives

Google Wallet
Google Wallet is an easier way to pay in stores, pay your friends and pay online. Shop in stores with all your loyalty, offers and gift cards in one place. Send money to friends and they can spend it instantly with the Google Wallet Card. Store your gift cards and loyalty programs and leave the plastic cards behind. Send money to any friend in the US with an email address or request money from them while on-the-go. It's easy, fast, and free to send directly from your bank account or Wallet Balance.
Google Wallet alternatives are:
PayPal, Venmo, Apple Passbook, Square, BitCoin
Here are the latest news about Google Wallet:

2015 Google Wallet integrates with Shopify and other merchant platforms

Google Wallet mobile payment system is adding some key integrations with merchants and merchant platforms. Customers that use Android apps from Dunkin’ Donuts and Seamless, and merchants that build online stores through Shopify, will now all be able to access Google Wallet to make and accept quick payments. In November Google Wallet was also integrated with Papa John’s Android app, as well as merchant platforms ChowNow and Shopgate. But overall it has been a relatively slow rollout for Google Wallet: before today, there were only around 30 mobile sites and 30 apps integrated with the product. To date, the payment services of Google Wallet are restricted to U.S. users and businesses only, although the company has now started to extend the ability to transfer money, another aspect of Wallet, to international markets, opening it up to Gmail users in the UK.

2015 Google acquired Softcard to power its Wallet

Just after Samsung acquired LoopPay to challenge Apple Pay's increasing dominance in mobile payments, Google also makes its step. It announced that it has acquired technology from mobile payments app Softcard, and that Google Wallet will soon come pre-installed on Android phones from three of the four largest U.S. carriers later this year. Softcard app (like Google Wallet and Apple Pay) relies on near-field communications (NFC) for its mobile payments.  Google Wallet allows users to make purchases at brick-and-mortar retailers by tapping their phones on contactless payment terminals. Though it predates Apple Pay by a number of years, Google's NFC payments system never achieved the visibility of Apple Pay, despite positive reviews.

2013 Google integrates Wallet into GMail

Google Wallet was launched a couple of years ago as a futuristic payment service for offline stores via smartphone. However, this trick had no success (even in the US) due to the lack of NFC-smartphones among users and the lack of NFC-terminals in the stores. But not to loose the beautiful name, Google first combined Google Wallet with its online payment service Google Checkout, and now Checkout will disappear and Wallet will remain the only Google's payment service. Maybe it will be a surprise to you, but if you have bought something in the Play Market (app or book), then you already have a Google Wallet account. And soon, you probably will be able to send money to other Wallet users and receive money from them (like in PayPal). And you'll be able to do it simply by sending an email from GMail and attaching the desired amount (as shown in the video). For while this feature will be only available in the US.

2011 Google Wallet: How it works

Today, Google has launched a new service - Google Wallet, which allows to pay for goods in stores with the help of a smartphone. Of course, it's more the future than the present technology even in US. But it's interesting to see how we'll pay in the future. For a user Google Wallet is a mobile application that is installed on a smartphone. In this application you enter your bank card details (or get a card directly from Google) and add your loyalty cards. Then, with your smartphone you go to the store and when approaching the point of sale, launch the Google Wallet application, enter your PIN-code, select a card, tap the terminal with your smartphone, and ... your money fly to the retailer.

Of course, in order all this work, the following conditions are nessecary:

1. Your smartphone should support the NFC (Near Field Communication) technology - i.e. must have the built-in NFC-chip for secure wireless communications. For now these are only few NFC smartphones, and Google Wallet works only on a single model - Sprint Nexus S 4G.

2. The Google Wallet application must be installed on a smartphone. Of course, Google will have no problem with Android-smartphones but with iPhones and Windows Phones they may have problems.

3. The store should have the NFC-terminal. For while in the U.S. only few retail chains have them

4. The card payment system should support such payments. With this everything is OK. Visa already supports them. Master Card - also, but so far only via City Bank.

5. The mobile operator should support the service to identificate the smartphone, from which the payment is made. While in the U.S. only Sprint works with Google Wallet.

Is it reasonable to replace the bank cards with smartphones, if everything is so complicated?

Yes, paying with a smartphone a little more comfortable than with a card. Because you still carry the smartphone and can leave multiple cards at home.

Yes, paying with a smartphone is safer, because it adds one more security level - PIN-code. And if you lose your phone, you don't need to block the card - you can remotely wipe it from your smartphone.

But the convenience and safety for users - are not the main reasons of why this technology is implemented. In fact, no one asks us. Google and retailers are willing to make large expenses to make us using smartphones as payment instruments.

For Google - it's a great opportunity to collect the data on consumer preferences and then show them relevant advertising. And retailers hope to turn our smartphones into magical devices that generates desire to buy and lets you forget that you have to pay money. After all potentially smartphone can not only pay for goods, but also present a product (when you tap it with your smartphone), notify us about new discounts, sales, etc.