Expand Horizons of Your E commerce Business with Google Wallet, an alternative payment solution

Google Wallet is a new ecommerce payment technology that could easily revolutionize payment behavior of online buyers, security of online payments, and PCI compliance. On May 31, 2011, Google announced that it would be partnering with Citi, Sprint, MasterCard, and First Data to build an open e commerce ecosystem. Google Wallet would enable online buyers to pay with a near field communication (NFC) wallet even when they make offline purchases.

Shoppers would be able to make payments in traditional stores by using the payment card of Google Wallet stored in an Android phone. The buyer should place the smartphone having the Google Wallet application by the side of the NFC-equipped pin pad and make an acceptance of the transaction. Google Wallet service covers coupons and other discount deals also. Buyers having Groupon, Living Social, and other downloadable printable coupons from e commerce sites could redeem them or even find and utilize other coupons, deals, and discounts available for the products that they buy.

Even though Google Wallet and other similar technologies focus on retail shops and other service providers with brick-and-mortar locations, the technologies would impact the way customers shop, the payment methods chosen by them, and the handling of the transaction data. This would have strong implications for ecommerce, particularly for ecommerce Montreal community. The way the ERP Montreal and CRM Montreal communities are conducting sales and purchase transactions are likely to change drastically as these technologies catch on.

According the U.S. Federal Reserve Bank of Boston, an average American uses about 7.3 cards for payment, with 3.7 credit cards, 1.3 debit cards, and 2.3 prepaid cards. For the ERP Montreal and CRM Montreal communities, Google Wallet and other technologies enabling payment from smartphones might appear similar to payments through cards. However, when this ecommerce solution catches on, the buyers need not carry so many payment cards. They would inevitably be carrying their smartphones with them and they could conveniently leave the wallet at home and still continue their shopping. The emerging technologies are still not perfect but future solutions could easily include all payment options, including the division of payment across different payment methods.

Further, Google Wallet is planning to integrate Google Offers service with Google Wallet. Google Offers is a direct competitor to Groupon and Living Social. This integration would help offline shoppers to redeem coupons, deals, and discounts from Google Wallet directly, the same way they had been doing in online purchases. These emerging technologies could store information on loyalty cards, keep track of purchases made from gift cards, and integrate with personal finance software that could warn buyers about purchasing over budgets. These features would make them stand out from conventional payment cards. It is time the ecommerce Montreal community understood the benefits of these emerging technologies and utilized them to their advantage. Magento Montreal software applications are the best way to do this.