Join gaming leaders, alongside GamesBeat and Facebook Gaming, for their 2nd Annual GamesBeat & Facebook Gaming Summit | GamesBeat: Into the Metaverse 2 this upcoming January 25-27, 2022. Learn more about the event. 

google-walletWhile 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


VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
  • networking features, and more
Become a member