Google WalletAfter being talked about for the past week, Google’s mobile payment system has been officially announced to the world. Called Google Wallet, this free Android app will allow users to make payments for products or services (at outlets that support the system) with an NFC-enabled mobile phone. Say goodbye to carrying cash or credit cards around – all you need to go on a shopping spree now is your phone.

MasterCard, Citi, First Data and Sprint have all teamed up with Google in order to make this service happen, and if embraced by the nation (the younger generation sure is keen about it) – it will revolutionize the way we spend our money. In order to encourage growth and usage of Google Wallet, there will be benefits to using the system i.e. through deals, discounts, promotions, and loyalty rewards.

The Google Wallet service is in its testing phases right now and will begin rolling out this summer. It looks like it’s finally time to get than NFC-capable phone. Official Google Wallet website.

[Press Release]

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