At the end of May a year ago, at a technology industry conference, Google (Weibo) Executive Chairman Schmidt demonstrated "Google Wallet" (hereinafter referred to as "Google Wallet") for the first time. This is a mobile payment product from Google. A Google engineer under the stage took out his wallet and threw it behind his back, saying that he no longer needs this thing in the future.
Google Wallet does look very convenient. When users buy things, eat meals, or take taxis, they just need to take out their phones and swipe them, and the payment is completed instantly. But a year later, the promotion of this mobile payment product was quite unsuccessful, with few carriers and mobile phone models supported, far from Google ’s expectations. There have even been rumors recently that Google is preparing to abandon this product based on NFC (Near Field Communication Payment) technology.
Even if it is as strong as Google, it will not be able to find a new way in the complex chain of interests formed by telecom operators, mobile phone manufacturers, credit card companies, banks and merchants. What caused the failure of Google Wallet?
Mobile payment has been difficult to advance, it is never a technical issue, but a coordination of interests of many players. In other words, this industry chain is composed of Google, telecom operators, mobile phone manufacturers, credit card companies, banks, and chain merchants, and each link is a giant in their respective fields. It is this complex interest chain that ultimately led to the promotion of Google Wallet.
Conflict with operator broke out
The mobile payment that has just started is a new business that operators value most. How can they give this fat to Google?
For users, the experience of using Google Wallet is convenient. When users consume, they just need to swipe the mobile phone to the merchant card reader to complete the payment immediately. The Google Wallet account is associated with the user's credit card account. In addition, when users install Google Wallet software on their smartphones, they can also associate membership cards and discount cards to enjoy points and discount services at the same time.
But a consumer uses Google Wallet, there are many links.
First, it needs a credit card issued by Citibank with the "MasterCard" logo, and then, it must have a smartphone with an NFC payment chip issued by US operator Sprint. As of now, only 6 mobile phones including Google Nexus S produced by Samsung (microblogging) and LG Viper produced by LG support this feature. Finally, it must find a store that supports mobile payment card swiping to complete the payment. There are 140,000 stores available for payment in the United States.
"In essence, Google Wallet is an open industrial chain much like Android." Cheng Shanbao, strategic planning manager of Huifu World Strategic Management Department, said: "But unlike Android's great success, Google does not occupy core resources in the payment field, The lack of control over the members of the alliance eventually resulted in a problem of unpopularity. "
In fact, at the beginning of Google's hope to promote Google Wallet, the conflict between Google and telecom operators had exploded. Verizon, the largest mobile operator in the United States, refused to cooperate with Google because of a security flaw in the business. But this is generally considered to be an excuse for Verizon, because the three major US telecom operators Verizon, AT & T and T-Mobile are about to jointly launch a mobile payment service ISIS similar to Google Wallet. Google has no choice but to work with Sprint, the smallest operator.
After the launch of Apple ’s iPhone, mobile operators ’control of mobile phone content has been greatly weakened, so operators need to find a new explosion point to strengthen their control of the industry chain. A new business, how can they give this fat to Google?
Credit card companies like Visa and MasterCard also have their own abacus. MasterCard and Google reached a cooperation agreement, but another big guy, Visa, was reluctant to cooperate. The company is preparing to launch PayWave, a mobile payment service based on NFC technology.
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