The Forefront of Digital Payments…Google Wallet

Google’s virtual wallet, Google Wallet, was announced a few years back. Above is a video demonstrating how Google Wallet can be utilized to simplify your life. Google Wallet is a mobile application for smartphones that allows you to store everything that you put in your wallet onto your phone (i.e. credit cards, debit card, gift cards, etc.) and pay with a simple scan of your phone. All your information is stored securely in the cloud.  

The engineers at Google are always looking for ways to enhance their products and that goes for Google Wallet as well. Recently, Google incorporated PayPal as an option for purchases in 12 countries including the United States, Germany, Canada, etc. They are also working on integrating Google Wallet with Google Glass. “Imagine you’re at a restaurant and you want to send your share of the bill to a friend. You simply ask Glass to ‘send money,’ swipe through the interface a few times and you’re done" (Google Wallet is Coming to Glass).

Google Wallet provides an interactive, new-aged experience for digital payments. A Virtual Agent can streamline virtual transactions and aid in the management of your wallet as well. For example, a Virtual Agent can let you know the balance of your debit cards, or remind you when a bill is due. What if your virtual butler could work with your virtual wallet? What would be the process leading up to your purchase? Would you ask the butler for directions to your favorite retailer, use it to scan the box for advice, and then access your wallet to pay?

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Virtual Agent Tips and Tricks: Near Field Communication, Digital Payments, and Virtual Agents in Your Favorite Store?

New technologies are developing to create unique experiences for customers; Near Field Communication (NFC) is one of those technologies. NFC allows companies to know when you are in the store and monitor your interactions with different products. These “sensors” give companies the ability to provide you with a personalized experience. Here is an example from an article written by David Marcus, President of PayPal, about Near Field Communication and wearable devices…

“For example, we have a pilot running in our on-campus Starbucks that combines Beacon, with an app built for the Samsung Galaxy Gear 2, and Gear Fit devices. Walk into the area covered by the Beacon, your watch notifies you you've checked-in, the barista, greets you by name because your photo shows up on the point-of-sale system, and when she rings you up, you get another push notification. Tap on the watch to confirm the payment, and go. This is one of the most transformative payments experience I've had. No wallet. The phone never leaves my pocket. And I'm in control” (Three Trends that MightTransform the Retail Payments Experience).

This example combined NFC and wearable technology to create a completely personalized shopping experience. In the future, Virtual Agents will be incorporated into virtual retail experiences - For example, if you are interested in buying a router, you can scan the box and a Virtual Agent will pop up on your phone to tell you everything you need to know about that product, acting as a personal “shopping advisor”. While this is happening, your data (interactions with different products) are being sent to a Customer Relationship Management (CRM) for sales associates to interpret your history and cater promotions or messaging specifically to your interests/needs. 

There is a lot of controversy surrounding NFC, specifically related to security issues. What is your opinion on NFC? Would you opt to share your 'in-store' activity resulting in a more personalized experience? 

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