Five Fixes That Could Save Google Wallet
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Solution 1: Work With Carriers
To
address its many issues, Google will first need to find a way to establish
better relationships with carriers. As noted, Verizon has its sights set on the
NFC space, while AT&T and T-Mobile are following closely. If Google Wallet
is to be successful, Google must find a way to strike deals with carriers that
will benefit both parties. It won't be easy, for sure, but it's an absolute
necessity.
Solution 2: Remember the Average Consumer
As
noted, consumers really don't know much about Google Wallet. And since there
are few devices and credit card companies that support it, they probably don't
care. The onus is on Google to start marketing its service far more effectively
and make consumers want to at least try it out. Marketing is central to Google
Wallet's future success.
Solution 3: Strike Better Deals With
Merchants
Google
Wallet has
partnerships with a host of major companies, including Macy's, CVS and
Walgreens. But for Google Wallet to be successful, the search giant must bring
the service to local merchants as well. Ubiquity is central to Google Wallet's
success. And it's about time the search giant realizes that.
Solution 4: Get All Credit Card Companies Into
the Fold
Google
currently has a deal in place with MasterCard PayPass for its Wallet service.
But for the offering to get off the ground, it needs to have many more
agreements in place with credit card companies. Whether or not they will agree
to those deals, of course, remains to be seen. But Google needs to try if it
wants Wallet to be successful.
Solution 5: Make Security a Top Topic
Security
is a major concern among mobile payment solutions. Whether or not it's
justified is another story. But who cares? If Google can make the point that
its offering is the "secure" source for mobile payment solutions, it
can go a long way in establishing Wallet's position in that market. Security
could very
well be Google's Trojan horse.
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