Ru kidding? Nope! Marc Freed-Freeman is overseeing Google Wallet services, which is scheduled to launch later this month.
This new technology will allow you to use your smartphone to pay for a wide-variety of services, including brick-and mortar purchases.
While making payments from your smartphone is not new, proximity technology is and it will change the way we can make a purchase. Google Wallet uses Near Field Communication, short-range communication systems that can transmit secure credit card data within a range of about 1.6”, allowing a smartphone to become a virtual credit card or prepaid cash card.
Initially, the technology will be available to a select group of Samsung Nexus S Android phone on the Sprint network, but I bet it won’t be long until others offer similar technology.
Other new mobile payment technologies, include:
Isis: A joint venture of AT & T, T-mobile and Verizon is scheduled to launch their version of NFC in the first half of 2012.
Square: Launched by Twitter co-founder Jack Dorsey, already provides hardware that allows you to use an iPad, iPhone or Android phone to swipe and process credit card transactions.
Jumio and Naratte: Allow users to complete the equivalent of a credit card swipe by transmitting payment data through a camera.
PayPal says purchases on all kinds of mobile devices using its services, including proximity like NFC and standard Internet-based purchases to grow from $750 million in 2010 to 7.5 billion in 2013.
BTW, check out the new ZOOM client service tab with PayPal interface at http://www.zoomcrossmedia.com