Google Wallet is a mobile payment app developed by Google that allows its users to store credit cards, loyalty cards, and gift cards among other things, as well as redeeming sales promotions on their mobile phone, Launched in the US on the Sprint Nexus S 4G.
Initially, the only phone supported is Sprint's Nexus S 4G, but Google plans to produce NFC stickers associated with one credit card each, ostensibly to be affixed to non-NFC-capable phones. Two methods for providing money to the service are advertised, Citi Mastercards and "Google Prepaid Card", which can be loaded using any major credit card.
PayPal Lawsuit
Shortly after launch, PayPal filed a lawsuit against Google and two former employees of PayPal - Osama Bedier and Stephanie Tilenius. The complaint alleges “misappropriation of trade secrets” and “breach of fiduciary duty.” The lawsuit reveals that Google was negotiating with PayPal for two years to power payments on mobile devices. But just as the deal was about to be signed, Google backed off and instead hired the PayPal executive negotiating the deal, Bedier. The lawsuit notes that Bedier knew all of PayPal’s future plans for mobile payments, as well as an internal detailed analysis of Google’s weaknesses in the area.
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