Google to replace credit cards with Google Wallet

Google has developed an application which could revolutionize the way we shop. No need of taking out and signing credit card slips, all you need to do is tap the phone at the register and you are done!

At present the free Google app runs only on Sprint’s Google Nexus S phone which uses Google’s Andriod software since it is one of the very few phones equipped with a special Near Fields Communication (NFC) chip which is required for Google Wallet. In future the feature will be available in many other phones.

The Mastercard network has NFC readers installed with over 150,000 merchants nationwide such as as New York City taxis, Sports Authority, Foot Locker and many more and are hoping to add Bloomingdale’s, Subway and Macy’s in the near future. Google has future plans to tie up with Mastercard to combine the two services.

With Google Wallet, you tap your phone instead of swiping the credit card. The phone acts as the credit card. At the moment the only card Wallet can impersonate is the Citibank Mastercard but Google is confident that in the near future more credit card companies and banks will work together with Google Wallet.