Google Wallet is turning one, but the application that was supposed to transform the smartphone into a wallet and revolutionize how consumers pay for things has barely gotten off the ground.
Why? The reason may be that Google has bet on the wrong technology: NFC.
A year ago, Google execs, along with its partners MasterCard, Citibank, and Sprint, took the stage in New York City to show off the future of payments. No longer would people have to overload their wallets with cards and receipts. Google's plan was to virtualize it all.
Through an application for its Android smartphones, … Read more