Your Google Phone is now your wallet too and that’s only the start

The next generation of Android phones will come equipped with NFC (Near Field Communications) hardware which allows encrypted wireless transmission of your credit card data. Instead of swiping your credit card through a reader, you’ll just tap approval to your phone. Google is going to make a fortune just from the licensing and processing fees alone. But they won’t stop there. This is also the basis of an astoundingly broad loyalty program. Google Wallet will not only store your credit card, but it will also store whatever membership card the store has. So say bye-bye to your starbucks card, your Safeway card, and hopefully my library card. The Google tentacles are spreading and I must say I’m loving it.