Google wallet was introduced last year and is basically what it sounds like. It is a virtual wallet that you can have on your mobile phone, facilitating many different types of payments you may need to make. According to Google Wallet's information page, if you have Google wallet and the online store you are shopping with accepts Google Wallet, you can check out much quicker. The reason for this is that Google saves your credit cards on the cloud, very securely they insist, so that you just click a few buttons and can pay in no time. Users can also pay at physical stores using Google Wallet and redeem different offers the stores may offer.
Google Wallet, unlike countless other apps Google releases, did not gain popularity as quickly as hoped after last year's release. TxVia is a mobile payments technology company, similar to the type of service Google Wallet provides. This past week Google purchased TxVia and with it came their over 100 million accounts and part of their team. This acquisition will help Google compete with some of the bigger mobile payment companies such as PayPal, owned by eBay. If Google Wallet can get a decent user base, hopefully this service can grow and both make them money and improve their overall mobile technology department.
Similar to my last blog, this is a situation where Google uses the money it has to purchase a smaller company in an attempt to keep up with a bigger competitor. They use the money they have to make more money. Goes along with the old saying, "You need money to make money." The rich get richer, not that I have any problem with it. I don't blame Google at all. They refuse to fall behind in nearly any category which to me is actually pretty respectable.
No comments:
Post a Comment