Google gave out a demo on the 26th of the Google wallet. This is what the Google blog had to say about this amazing new technology.
Google Wallet is a key part of our ongoing effort to improve shopping for both businesses and consumers. It?s aimed at making it easier for you to pay for and save on the goods you want, while giving merchants more ways to offer coupons and loyalty programs to customers, as well as bridging the gap between online and offline commerce.
At first, Google Wallet will support both Citi MasterCard and a Google Prepaid Card, which you?ll be able to fund with almost any payment card. From the outset, you?ll be able to tap your phone to pay wherever MasterCard PayPass is accepted. Google Wallet will also sync your Google Offers, which you?ll be able to redeem via NFC at participating SingleTap? merchants, or by showing the barcode as you check out. Many merchants are working to integrate their offers and loyalty programs with Google Wallet.