Google Email, Google Web,and now Google Wallet

Updated: 2011-09-20
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Anyone who has problems controlling their spending should look away now. Google hopes to make payment via a credit card as simple as waving a phone - with a new service that looks set to launch imminently.
At present, Google Wallet says, 'Coming soon' - but a launch today is widely expected.
Google's 'Wallet' will allow you to make purchases simply by waving phones at specially equipped Mastercard machines - without the need for separate credit cards. 
You'll still need a PIN code, though - although using NFC (Near Field Communication) technology, phones equipped with the chips will simply need to be 'waved' to pay, rather than 'slotted' in to a terminal. 

New payment technology: The engineers of the Google Wallet hope it will one day replace everything from boarding passes to keys
With typical understatement, Google says, 'We believe that the launch of Google Wallet is the beginning of a new era of commerce.' 
It will at least do away with the the irritating question, 'Do you have a loyalty card?' - all such cards and coupons will be stored within the 'Wallet'. 
The product could launch as early as today - Google recently released new advertising for the service, which will work with upcoming Android phones, starring George Costanza from the hit comedy Seinfeld.
Costanza puts a note advertising Google Wallet into his own wallet.But there is so much crammed inside it promptly explodes - 'proving' the need to slim down. 
Internet photos have 'shown' a live version of the device - but thus far, it appears to be in just one San Francisco coffee shop. 

Phones such as the Nexus S, equipped with NFC (Near Field Communication) chips will be able to be used as payment cards or even keys.
Google's own Nexus S phone - released months ago - has an NFC chip, but so far, little use for it. It's often been rumoured that iPhone 5 will include such a chip - but whether it will, and whether it will work with Google Wallet, remains to be seen. 
On the official Google blog, the project’s engineers Rob von Behren and Jonathan Wall wrote: ‘You'll be able to store your credit cards, offers, loyalty cards and gift cards, but without the bulk.
‘When you tap to pay, your phone will also automatically redeem offers and earn loyalty points for you.
‘Someday, even things like boarding passes, tickets, ID and keys could be stored in Google Wallet.’
This is dependent, of course, on other companies such as credit cards and merchants signing up with Google - something that is, at present, not guaranteed.
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