As expected Google Wallet is quickly expanding the card types that can be used with its service. Visa has announced that it has issued a worldwide license to its mobile payment application, payWave. Like MasterCard’s PayPass technology, payWave allows Near-Field Communication (NFC) enabled Visa cards and devices to be waived in front of compatible terminals for collecting payments from customers.
The agreement between Visa and Google will allow financial institutions to offer their account holders the ability to add their Visa credit, debit and pre-paid cards to their Google Wallet accounts. Initially, Google Wallet was only compatible with Citi MasterCard accounts.
Google Wallet Logo
Google Wallet acts as a digital wallet that lets consumers pay with their NFC enabled phone in place of using physical cards. Currently the only compatible
phone is Sprint’s Nexus S G4 but more phones are expected to be added in the near future. Additionally, merchants must use First Data as their card processor if they wish to accept Google Wallet and will need to upgrade to NFC enabled terminals.
If you haven’t seen it yet, Google has already release its first commercial for the service:
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