Google Wallet is a platform that allows users to pay for goods using their phones. It was born sometime September 2011 to capitalize the mobile-payment market after a soft launch it just didn't took off as creators want it to be. According to San Francisco Chronicle, "Google is weighing changes aimed to improve it's Googe Wallet mobile-payment system after its slow performance and the departure of it's two key managers."
Part of the reason why it has a soft launch is the lack of partnership from major cellphone carriers such as Verizon Wireless and AT&T. So far the only phone supported by Google Wallet is Sprint's Nexus S 4G. But not anymore, according to Telegraph UK, Google has been handed a major headstart in dealing UK’s ‘swipe and pay’ mobile phone payments market with its Google Wallet. The report says the European Commission delayed a rival project by Britain’s biggest mobile operators to accomodate Google wallet proposal that hopefully the joint project will be up and running by the Olympics so companies could take advantage of the expected spike in advertising. Google already is the leading seller of ads in smart phone and gaining a piece of the pie in the wireless-payment market will expand its dominance in the industry.
Currently retail locations in the US that accept Google Wallet are ranging from the New Jersey Transit system, Macy’s, Walgreens and 7-11. Google Wallet slowly is becoming mainstream that intends to expand the Google wallet app which is designed tool to boost its share in the billion dollar market. Mobile payment transaction last year tops in a staggering $60 billion and is expected to hit $170 billion by 2015.