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How many times did it happen? You're in the car, you reach a particular shopping destination, and you have forgotten your store card reward or, worse, the credit card to be used on this trip.Rewind.Now, imagine that before you can make your life easier to go from the portfolio to total and absolute physical elimination of carrying cash, credit / debit cards, coupons and transit passes, all thanks to the realization of something else your mobile device.This is the fundamental concept behind the mobile wallet, and a future concept just made a big jump earlier this week thanks to one of the latest of a small company called Google. So, Google has just announced the official launch of the Google portfolio that will allow users to have NFC phones to pay for products with a single tap against a compatible card reader.But what's the NFC, and what is the history of this portfolio? Here's the rundown:First, NFC Near Field Communication means the chip, which is already scheduled to be inserted into the next model of phone, allows a non-contact type payment at point of sale. Think tap and go. Now, the Google portfolio is a bit limited at first, but an important first step. Ideally, you could try this (in theory - more and more will be made available throughout the country in the coming months) anywhere MasterCard PayPass terminal.However, a few words on the phone: Currently, the Google service is only available to you if you are carrying a phone Sprint 4G Nexus S to activate the application (if not you, then you also want to have a MasterCard PayPass enabled card issued by Citi Prepaid or bottom of Google). Interested users should also upgrade to version 2.3.7 and Android. Following the launch, users will have to create a PIN code. After a few steps and other hardware requirements, it would be good to go.Sound like a lot? Perhaps, but a little to keep in mind: since Google recently bought a Motorola assume these phones is to use before Portfolios. Google is also in talks with other cards other than MasterCard.We are only the tip of the iceberg when it comes to mobile payments, folks. The most important thing is to know that this is happening and the premise behind all this. Of course, these limitations also help keep things manageable so Google can control the system and act accordingly. And role models to adjust may come from abroad, where a large amount of activity of such payment is underway!No doubt conisderations for consumers such as privacy, but be aware of such issues and to resolve, as the U.S. ramps over time.In essence, I think this is an important step for Google, but certainly not the last of this company nor competition. In fact, seeing the field of financial transactions to be almost unrecognizable in 1-5 years once all the players and the game pieces have been introduced and fully implemented. In fact, bet on it.However, the game will be very interesting because from African Americans, particularly those in the 18-34 demographic index was through the use of mobile phones to talk, text messaging to the use of functions, it is almost obvious that we will take the phone transaction package as well. Couple this with the understanding of the fact that most African-Americans are unbanked, and is a potential gold mine. The question is, how much of this new scenario really control or benefit from finanically instead of simply taking the position of the pawns of consumers?
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