Google has officially launched Google Wallet—an app that when paired with your your Citi MasterCard credit card or the Google Prepaid Card turns your phone into a wallet.
The application, first announced in May, was described in a Google post posted earlier today.
While the application is initially limited to Citi MasterCard users Google has that they have teamed with Visa, Discover and American Express to add their cards to future versions of Google Wallet. Google said it would begin rolling out Google Wallet to Nexus S customers through an over-the-air update; customers need to look for the "Wallet" app on the phone.
The Google Wallet works with the MasterCard PayPass payment system and works similarly to any current PayPass credit card. The application utilize wireless Near Field Communication (NFC) technology to communicate to PayPass terminals. Users simply swipe their Nexus S phone close to the payment terminal, enter a PIN in the application and payment is enabled.
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