Google are approaching the table with another exciting innovation; the Google Wallet. This app for your Android powered device will allow you to pay for your purchases with your existing debit and credit card accounts in stores by simply touching your device on a pad. Oh, and it can serve your loyalty cards too!
While watching Gary Vaynerchuck‘s video about this exciting move I got to thinking:
“Why are Google going for this?”
“Is this a data play?”
“How does this fit with other Google products?”
Google local search is expected to be the next big move for Google alongside developing social search. But where do Google find the data to back local search? They can scan social networks such as Facebook and Twitter, implement their +1 button and ask business to sign up to the business local listings. But there is something else they can do that will quickly create huge piles of local data and that is tap in to what the public are purchasing, where they are purchasing it and when.
Imagine how this data can feed search results. You are in the middle of a town, and your phone knows this by GPS. You fancy a coffee and wonder which vendor to visit? Out comes your phone, you open Google and search “coffee”. Google combines your location, Google business listings, social data, where you regularly use your loyalty cards and the big one: what outlet sells the most coffee to somebody fitting your profile at that time of day and in that area? With this combination of Data, Google can make relevant suggestions in the search results.
But wait there’s more! You’ve heard of Groupon and Living Social who deliver daily deals to your email inbox but have you heard of Google Deals? Maybe not yet, but it’s coming! Google are looking for a way to enter Groupon and LivingSocial’s space and with the Google Wallet they have an amazing opportunity. Not only will your device work as a payment system, but by combining Google Deals it can inform you of relevant deals and discounts in store.
I can picture it now, no more debit or credit cards in my wallet, no more carrying loyalty cards for 5 different coffee shops and multiple supermarkets and petrol stations, and relevant timely recommendation, discounts and deals.
I’m looking forward to seeing how this pans out.
I would be really interested to hear your thoughts and see links to other discussions around this idea.
