Google looking to revamp wallet strategy?

March 21, 2012

Some major strategy changes may be coming to Google Wallet. This is according to a report by Bloomberg. Sources close to Google Wallet told Bloomberg that Google may even be considering sharing revenue with carriers to get the wallet on phones they sell.

The adjustment in strategy is apparently due to disappointing adoption by consumers, and it comes after the departure from the company of a number of team members behind Google Wallet.

"They are in a bit of a re-evaluation pattern right now," said Aite Group analyst Rick Oglesby to Bloomberg. "It's going much slower than anticipated."

Google, which is officially only available on phones from Sprint, has been stymied in its efforts to get Google Wallet onto phones distributed by the other major carriers. Those carriers — AT&T Mobility, Verizon Wireless and T-Mobile USA — are looking to launch their own competitive product, the Isis Mobile Wallet, later this year.

Verizon supposedly blocked Google Wallet from NFC-enabled handsets late last year (though workarounds were available). Verizon later said it had not blocked the app, but had requested that it be disabled due to security concerns.

A spokeswoman for Verizon told Bloomberg only that the company is continuing commercial discussions with Google on about Google Wallet issues. AT&T declined to comment.

For more stories on this subject, visit the Contactless/NFC research center.

Topics: Carriers / Operators , Contactless / NFC , Mobile/Digital Wallet

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