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Mobile Wallets: All You Should Know

Tuesday, July 5, 2011 - 9:13 AM
From Near Field Communications / Smart mCommerce
Imagine this: It’s 2015. You walk into a store,buy your groceries and go to the cash counter. The store’s barcode reader scans the pricing information on your purchases and flashes the total amount on a tiny device placed on the counter.

You take out your mobile, punch in the amount and click ‘pay’. But then, your smartphone reminds you that you are eligible for some discount at that store because of some earlier transaction. It calculates the discount and automatically deducts the payable amount from your account.

The whole process is complete in a few minutes, depending on how much time the barcode scanner took to read the price information. If you think this is too futuristic, think again. Google, in May, announced that it will soon roll out its Wallet service on a test basis....

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