Mobile

Google Offers is the business plan behind Google Wallet, and it's live tomorrow

While demonstrating their new mobile payment product Google Wallet today, Google executives offered some insight into how it will make money.

Google executive chairman and former CEO Eric Schmidt gave the demonstration with Google vice president Stephanie Tilenius at the D9 conference in Rancho Palos Verdes, Calif. Users should be able to tap their phones against compatible point-of-sale devices and use the app to make payments. They should be able to use the Wallet app to redeem offers from Google’s upcoming deals product, Google Offers. Schmidt and Tilenius said the Offers will be the real moneymaker for Wallet — in fact, Google doesn’t plan to charge a fee for the app or for transactions.

They also emphasized that they see Google Wallet as something that isn’t limited to Google’s Android phones (although that’s where it works for now). Wallet is an app that should hypothetically work on other smartphones, Schmidt said: “There’s no intent to favor any one platform.” Does that mean we’ll see Wallet on iPhones, Windows Phones, and BlackBerrys anytime soon? We’ll see.

As for Google Offers, Tilenius also announced that the first deals will go live tomorrow. As previously announced, the program is starting in Portland, and it will expand to San Francisco and New York later this summer.

We’ll be exploring the most disruptive mobile trends at our fourth annual MobileBeat 2011 conference, on July 12-13 at the Palace Hotel in San Francisco. It will focus on the rise of 4G and how it delivers the promise of true mobile computing. We’re also accepting entries for our mobile startup competition at the show. MobileBeat is co-located with our GamesBeat 2011 conference this year. To register, click on this link. Sponsors can message us at sponsors@venturebeat.com.


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Trackbacks

  1. [...] Google Wallet is not only bringing mobile payments to the phone, it’s also integrating a daily-deal offering into its Wallet feature, including launching deal … — to compete fully with Groupon. The No. 2 deal site, LivingSocial, is also competing heavily [...]

  2. [...] Google Wallet — Google is the next antagonist in this war. Google recently announced its plans for Google Wallet, an app that lets you easily tie any of your credit cards to your phone and make payments to businesses that have installed NFC-enabled readers to accept credit cards.  It’s a bold move by Google to exploit its extremely popular Android phone operating system — Android powers more smart phones than any other OS — to get on your phone via its popular Google Market app store. Google wants Wallet to become the starting point, so that it can serve you a bunch of other offers (Google Offers). [...]

  3. [...] Google Wallet — Google is the next antagonist in this war. Google recently announced its plans for Google Wallet, an app that lets you easily tie any of your credit cards to your phone and make payments to businesses that have installed NFC-enabled readers to accept credit cards.  It’s a bold move by Google to exploit its extremely popular Android phone operating system — Android powers more smart phones than any other OS — to get on your phone via its popular Google Market app store. Google wants Wallet to become the starting point, so that it can serve you a bunch of other offers (Google Offers). [...]

  4. [...] Offers went live in June and is still in a beta testing phase, only available in Portland, the San Francisco Bay Area and [...]

  5. [...] Offers went live in June and is still in a beta testing phase, only available in Portland, the San Francisco Bay Area and [...]