| September 21, 2011

Google Wallet officially introduced

While Google officially announced the concept of its mobile credit card purchasing system earlier this year, the company is now officially rolling out the program in select cities.

Google Wallet, the first in a number of credit card payment systems that allow consumers to load their payment information onto certain types of smartphone, is now available to the some consumers in New York City and San Francisco, according to a report from the New York Times. However, the web search giant is first focusing on signing up users and consumers alike in those cities.

One problem for adoption of this program is that it utilizes near-field communications technology, which is currently only offered in one type of smartphone – the Sprint Nexus S 4G – available to consumers, the report said. Further, the program is only available for consumers with Citibank accounts and MasterCard-branded credit cards.

Google is one of many companies – cell phone service providers, credit card issuers and tech firms – that are now either planning, testing or rolling out credit and debit card payment systems that work with consumers’ smartphones.

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