Google Wallet growing as security issues get resolved
Google is quickly establishing itself as a leader in mobile commerce. Last year, the famed technology company launched the Google Wallet, a mobile payment platform that allows consumers to make purchases using an NFC-enabled smart phone. The platform had a turbulent launch, receiving criticism for its lackluster security features and accessibility, but Google has worked to resolve these issues quickly. Now, the company claims that mobile payments being made with Google Wallet are on the rise and are growing faster than had been accepted.
Mobile payments double in six week period
According to Google, mobile transactions made with Google Wallet have doubled in the six weeks that have passed since the launch of a new cloud-based version of the platform that was introduced on August 1. This version of Google Wallet was designed to address the various security concerns that consumers had with the original platform. Because the platform is now connected to a cloud computing network, the financial information that is used to be stored on a smart phone itself is now stored in a secure digital network. Thus, this information cannot be as easily stolen or exploited.
Slow and steady may win the race
Despite the rapid growth Google Wallet has experienced over the past month or so, Google notes that mobile payments are not going to be an overnight success. The company is gearing up for the long haul, especially as more competitors emerge in the growing mobile commerce field. Google notes that there is still a great deal of work left to do in getting consumers comfortable with NFC technology. Osama Bedier, vice president of Google Wallet and the company’s mobile payments, claims that this is a three-to-five-year effort and that consumers still have a lot of concerns regarding NFC technology and its safety.
Google to clash with Isis
Google’s largest competitor to date, Isis, is expected to launch in a matter of days. The Isis platform boasts of some impressive security features and has managed to garner the backing of most of the world’s major financial institutions. Google Wallet is still struggling to find this support, but has proven rampantly popular with consumers. Isis has proven favorable with businesses, but has yet to enthrall consumers.
Isis platform prepares for launch this month
There is a lot of attention surrounding mobile commerce and the various platforms that are becoming available to consumers, allowing them to participate in the burgeoning industry. Consumers have proven themselves to be keenly interested in the concept of using their mobile devices to make payments for goods and services, thus boosting the demand for mobile commerce platforms. Google has already launched its own platform, successfully attracting consumers from around the world. The company will soon face its most significant competition in the industry, however, as the Isis platform prepares for launch later this month.
Challenges facing platform may have been overcome
Isis is a mobile commerce platform and joint venture from AT&T, T-Mobile, and Verizon Wireless. The platform is much like other of its kind; it is able to facilitate mobile transactions using NFC technology. Unlike other platforms, however, Isis has managed to acquire the support of most of the world’s major credit and financial institutions. Despite this support, the launch of Isis has been delayed several times in the past, largely due to concerns regarding security and the viability of the features it offers.
October 22 marks beginning of aggressive promotional campaign
Isis is currently conducting trials of its platform in New Jersey and international markets, and believes that the time is quickly approaching for an official launch. As such, Isis has announced that it will launch to the commercial market on October 22 of this year. That day will mark the beginning of a near-month long promotional campaign in which consumers can purchase certain NFC-enabled mobile devices at a significant discount and receive a Visa pre-paid card that will be used with the platform.
Isis may be able to beat out Google in mobile commerce industry
Isis is poised to be the most significant competition that Google and other companies invested in mobile commerce will face. Backed by the support of a multitude of financial and credit organizations, the platform has already established a strong attraction with consumers. Moreover, Isis has been working hard over the past several months to educate consumers on how to use the platform to conduct mobile payments, something that other companies have not done.
