Okay, so we're not totally sure Google will be unveiling its Google Wallet contactless payment system, but we're rather certain that whatever the company has to unveil will have something to do with paying for things using a wallet that doesn't contain physical money yet features some sort of Google branding. Would you like to know more? Join us for the full liveblog experience at the times below:
06:00 - Hawaii 09:00 - Pacific 10:00 - Mountain 11:00 - Central 12:00 - Eastern 17:00 - London 18:00 - Paris 20:00 - Moscow 00:00 - Perth 00:00 - Shenzhen 01:00 - Tokyo (May 27th) 02:00 - Sydney (May 27th)
1:19PM And that's it! Thanks for joining, now, who's up for a shopping spree?
1:18PM Google says that once things are ready the marketing will begin. Has some "exciting marketing plans" coming, which will include retailers.
1:18PM Question regarding how this will be marketed to consumers.
1:17PM In terms of field trials, they're not disclosing how many people will be eligible to ditch their wallet -- assuming they always carry around a spare battery.
1:17PM Google has been working with Mastercard and First Data to identify partners. Won't give out specific numbers, but they're "moving quickly" to get more.
1:16PM Question about how many people will be involved in the NY and SF trials.
1:16PM Google reminding that the company has "principles" that guide it, the first being transparency. Second is control, ensuring that consumers still have control. And the third principle is value -- no value no reason for data.
1:16PM Google now confirming that Google does not store transaction data about cards themselves. But, consumers can opt in for Offers.
1:15PM "We have designed this ecosystem to be 100 percent sure that that covenant is never broken."
1:15PM Citibank -- "We have built this with tremendous integrity... your bank data stays with your bank. Your bank data is never shared. Your bank data is never routed."
1:14PM Google -- "The data is owned by each of the respective partners, and the consumer owns their own data."
1:14PM Questions about privacy, who owns the data being gathered? There are a lot of partners in here...
1:13PM So it sounds like you can't quite leave your physical wallet at home.
1:13PM Google's answer? "You have to use the plastic at that point." Hrm.
1:13PM Question: what is the backup plan if your phone's battery dies?
1:12PM And confirmation that you can use the app even if your phone doesn't have NFC.
1:11PM "No announcements" but yes, Google is working on it.
1:11PM Question about international expansion.
1:11PM Confirmation that the Wallet app is free.
1:11PM Again asking what Google is getting for transaction fees. Google again confirming that it is not charging anything for payments.
1:10PM Google indicates this is just the beginning, still need to re-think current retail practices.
1:10PM "Why do you still have to sign?"
1:10PM Question about security versus convenience. To pay you need to enter the pin, but to capture offers you don't.
1:08PM "The belief is that this thing will proliferate."
1:08PM "This isn't science fiction. It's implemented today... it will just be a matter of time when you see it everywhere."
1:07PM Fared from Sprint came up "Somebody has to pioneer... NFC as a technology is not a complex technology to implement."
1:06PM Google -- "In the last six months, Android issued 50 percent of phones to market." Google is saying it's really pushing to get more phones with NFC.
1:06PM So, yes, they're willing to work with Apple or RIM or maybe even you if you have your own phone OS.
1:05PM Google -- "We will partner with everyone." Could even put a sticker on the phone if it lacks NFC.
1:04PM "How open is this really?" Can you use this on iPhone or Windows Phone devices?
1:04PM Yes, you can wipe them remotely. And there's also the PIN of course.
1:04PM Basically, can you lock or wipe the phone remotely?
1:03PM "What happens if you lose your phone?"
1:03PM Of course this is opt-in, you don't have to provide your location or other info if you don't want to.
1:03PM Stephanie is talking about "geotargeting" -- a "push-pull relationship" of looking for offers vs. offers being pushed.
1:03PM "How will you be tracking consumer data and how do you plan to leverage that for advertising?"
1:02PM Confirmation that Google is not making money on payments.
1:02PM Yes, they'll be point of record, and will make money "Very similarly" to how Groupon does.
1:02PM "Is Google going to be acting as the merchant of record, and how are you guys going to make money on Offers?"
1:01PM Q&A time.
1:01PM "Today we're field testing Google Wallet and we expect to release this summer... we are really excited about what's around the corner."
1:01PM "Google Wallet is built on an open platform so any partner can participate."
1:00PM A giant list of merchants up on the screen. Far from retail ubiquity, but it's definitely a solid start.
1:00PM Phew. Video over. Stephanie again.
12:59PM Subway -- "They could be walking down the street, think about lunch, type in 'lunch' in their phone and get a coupon from Subway."
12:59PM American Eagle -- "It's amazing for the customer. It's going to change how people shop."
12:58PM The Container Store -- "Google Wallet organizes someone's personal data in a way that is more secure."
12:58PM Subway -- looking forward to improve the shopping experience for 30 million customers.
12:57PM Macy's -- "The consumer is looking for a fun shopping experience" -- Google Wallet delivers that.
12:57PM Video time again, let's see who else is working with Google Wallet.
12:57PM Some very thankful people in this room. It's a warm feeling.
12:57PM "A lot has happened over the last year." She's thanking everyone again.
12:56PM Stephanie is back up. "Lots of exciting news."
12:56PM "We're very excited about this opportunity and we really want to thank the Google team."
12:55PM The Nexus S 4G is one of the company's top selling phones at the moment. Over 75 percent of sales today are Android.
12:55PM Can I get an amen?
12:54PM Saying that open platforms "allow for choice." That "A carrier should not dictate your choices on your phone."
12:54PM Also talking up the recent Google Voice integration.
12:54PM "We just recently launched this device you're seeing in all the demos, the Nexus S 4G. It's a pure Android Experience."
12:53PM Fared wins the award for the best suit on stage today. Yellow tie, yellow logo. Nice.
12:53PM Ed is off, Fared Adib from Sprint is up now.
12:52PM TSM being their transaction system. The thing in the middle, there. It does the heavy lifting.
12:51PM All bank and loyalty accounts go through First Data. "Today they are on pieces of plastic... we take those 700 million card numbers and we provision them over to the TSM, which will enable the phone to be used at our four million merchant locations and beyond."
12:51PM Over a billion prepaid cards on file handled by this company. That's with a b.
12:50PM Brings relationships with companies like Citi and others, meaning these guys surely helped Google pave the way to bring these companies together.
12:50PM "More than likely on a day-to-day basis you're using First Data."
12:49PM First Data provides the Mobile ecommerce ecosystems. "Nobody's ever heard of First Data... but we process 40 billion transactions a year."
12:49PM Really makes those late night runs to the border a bit easier, am I right?
12:49PM "In 1999, the thought of putting electronic payments in quick service restaurants was a little ridiculous." Now they all have them.
12:48PM "Think about 1989. You could not use your credit card in the supermarket in the US. Now, over one half of the payments in supermarkets are electronic."
12:48PM "This day was never a question of if, it was a question of when."
12:47PM 27-year veteran here, folks. Respect.
12:47PM Time for Ed Labry from First Data. "What an incredible day."
12:47PM Over 100,000 merchants ready for Google Wallet today.
12:46PM Mastercard is working on expanding and defining the PayPass standard.
12:46PM It's not just speed, though. He's saying the company's smarts set them apart.
12:45PM "At the heart of Mastercard is our network... the fastest, most intelligent payment service worldwide."
12:45PM This is about "bringing together industry leaders to leverage their strengths" to create amazing experiences for consumers.
12:45PM Ed McLaughlin from Mastercard now.
12:44PM And you can tell your grandkids that you were there live!
12:44PM "We're really just at the starting point of mobile payments capabilities." Soon there will be numerous, "but there can be no doubt that today's announcement will be looked at as the inflection point."
12:43PM The point is to "help improve the everyday lives of consumers by bringing them real value, a better shopping experience, and helping them manage their money."
12:42PM "Our engineers have worked tirelessly... around the clock." More love for the engineers. Must have been a lot of late nights and coffee runs to get this ready.
12:41PM They're the future, you know, those touchscreens.
12:41PM He's talking up Citi's new branch here, in Union Square -- lots of fancy touchscreens and the like.
12:40PM Citi wants to be "the world's digital bank."
12:40PM "Today's Google Wallet announcement supports Citi's position as a global leader in payments."
12:39PM "It is indeed a privilege to be on stage today" -- he's really glad to be a collaborator.
12:38PM Paul Galant, CEO of Global Enterprise Payments from Citi, is on stage.
12:38PM We're going to be joined by reps from Citi, Mastercard, First Data, and Sprint.
12:38PM "We want it to be as open as possible, so long as we don't sacrifice on consumer choice or security."
12:37PM Working on developing APIs for banks and retailers.
12:37PM Confirmation that the wallet is free to partners. Even small businesses can put offers and loyalty programs directly into the wallet.
12:37PM What we're seeing today is the "backbone of commerce." Extensibility for financial, mobile, and retail ecosystems.
12:36PM "So what does an open wallet look like? We're starting with wallet objects -- cards that you put in the wallet."
12:36PM "We focus on the user and all else will follow." Hey, that's you!
12:36PM "Open is who we are at Google. It's a deep part of our culture, a part of our history, and open systems drive value for all players."
12:35PM "We want to invite banks, carriers, merchants, POS system providers, to help bring about these richer experiences."
12:35PM "We'd like to extend an invitation to all of you. This can get a lot better."
12:34PM A happy place.
12:34PM And yeah, everyone's still smiling a whole lot. The future is an amazing place.
12:34PM ...buying a new soccer jersey for the kids, paying for art supplies, flowers...
12:33PM Okay, we're saving coupons to the wallet from a computer, getting coupons from posters, buying a latte, smiling a lot...
12:33PM Video time. Google's "Mobile Commerce Vision" -- let's see the future!
12:33PM Reminding us that this is a "real live retail product" that will continue to grow.
12:32PM With a tap that coupon was transferred to his wallet, just in time for the Memorial Day Sale.
12:32PM We're seeing another example, a Macy's poster with an embedded coupon.
12:32PM Osama's back, he's walking off with his shorts.
12:31PM Also, they'll be adding the ability for merchants to automatically suggest signing on to the merchant loyalty programs.
12:31PM You'll be able to pass digital receipts back to the phone soon -- no more paper.
12:30PM "This is just the beginning." They're going to continue adding new features.
12:30PM These transactions rely on multiple secure transactions in one shot, transparently to the user.
12:30PM Talking about the "nuts and bolts" of it all.
12:29PM Another engineer coming up, Jonathan Wall.
12:29PM Beth is completing the transaction, 20 percent coupon applied, giving a healthy deal of $4.99. Denim shorts for under $20? That is amazing, Google.
12:28PM Oops, having to tap again... still, two taps isn't bad.
12:28PM Shorts have been bought. Just one tap and three things, the credit card, coupon, and rewards card all applied in one shot.
12:27PM Okay, denim shorts are on stage.
12:27PM Beth McCormick from AE is up, with a real point of sale system up on stage.
12:27PM Loyalty cards now, showing off American Eagle.
12:26PM Flatbread coupon. Osama's definitely watching his carb intake.
12:26PM He's also looking for nearby offers through the app. Subway getting a little attention now.
12:26PM Bam, one click in a browser and the coupon shows up in Google Wallet's saved offers.
12:25PM It is, after all, summer time, and those cutoffs are a little last year.
12:25PM We're looking for denim shorts, and he just found a 20 percent off coupon at American Eagle.
12:25PM Crowd likes that. Crowd likes commerce.
12:24PM Osama's back -- "Let's go shopping."
12:24PM The chip itself is only turned on when the wallet is opened and unlocked, meaning you don't have to worry about someone scanning your card when you're just walking down the street.
12:23PM "When you're doing OTA provisioning, the banks add some special secret sauce in a way that's known only by the bank and the provisioning element."
12:23PM Yes, it's certified Dr. Evil safe.
12:23PM "It's got a lot of protections built into it" -- including tamper sensors, protection from laser attacks.
12:22PM Talking about the NXP PN65 chip that's in the Nexus S.
12:22PM And so it makes good sense that we're going to talk to Rob von Behren from Google, one of their security experts.
12:21PM "Security is very important to us. It was a fundamental consideration to us."
12:20PM "This is an open platform... the idea here is to continue to partner with other companies."
12:20PM Tap on that and you can add funds from any credit card that you like.
12:20PM It, like the main card, can be used at any of the 300,000 PayPass locations.
12:20PM Then there's also the Google prepay card, which can be provisioned with a single tap.
12:19PM At first you can only use up to $100 until you enter a confirmation code received over SMS or e-mail, but it can be used immediately -- so long as your spree isn't too extravagant.
12:19PM This cycle will "Change the way credit cards are issued in the future."
12:19PM Personal info goes to the customer's bank, which then works with First Data, which is the "Trusted Services Manager."
12:18PM Yeah, we just saw his number. That may have been intentional. It scored some laughs.
12:18PM OOPS... I think we just saw his number.
12:18PM He's adding the data in realtime...
12:17PM Now he's doing it with his actual "wallet" -- which is just a stack of stuff in his pocket. He's entering it into the phone live -- no, he's not showing the number to us.
12:17PM At that point you can add cards, asking for details about a Citi Mastercard.
12:17PM It's asking for a PIN "without it I can't use it to pay or access any information in the wallet."
12:16PM Agreeing to some terms and conditions... reeeeeeally long terms and conditions.
12:16PM Getting a demo now, bringing up a Nexus S with the wallet app.
12:16PM Applause for the coders!
12:15PM Thanking the engineers and partners who've worked "tirelessly" to bring this to market.
12:15PM "This is not just an announcement, this is a real product. It's up and running and merchants are integrating as we speak."
12:15PM "Google is uniquely positioned" to shift us into this new grand payment scheme.
12:14PM Osama Bedier is up on stage, VP of Payments.
12:14PM "Eventually you'll be able to put everything in your Google Wallet" -- even drivers licenses!
12:14PM "Pay, you redeem offers, and you receive loyalty rewards with one tap of your phone."
12:14PM You'll be offered ads that you have to look for, places offers offered by retailers, and check-in items for those who want to be mayor of couponville.
12:13PM To redeem offers you just have to tap your phone, no fumbling for e-mails.
12:13PM Groupon just got Google'd.
12:12PM "Offers will be delivered to your inbox as an offer of the day." You can also go hunting for them through apps.
12:12PM Okay, time to talk Google Offers.
12:12PM Here we go: Macy's, Subway, Wallgreens, Toys 'R Us, Noah's Bagels, and "many more."
12:12PM The service starts in San Francisco and New York, expanding nationally "in the coming months."
12:11PM No more worrying about the guy at the next table over at dinner spying your digits.
12:11PM Phone lock, required pin, encrypted data on the phone itself, and the card is never fully displayed.
12:11PM It's a "wallet you can lock" -- multiple levels of security.
12:11PM Can also use a Google prepaid creditcard that can be funded from any credit card you like.
12:11PM Google Wallet supports multiple cards, by default Citi Mastercards.
12:10PM Okay, we're hearing now that it's 2014 before 50 percent of smartphones have NFC.
12:10PM Okay, diving in to Google Wallet now. Field test kicks off today, with the official release this summer.
12:09PM "Tap and save" is the phrase here. "Tap and save." We'll be hearing a lot of that.
12:09PM We're being told that this is "just getting started"
12:09PM Retailers can build relationships with consumers and deliver better targeted deals. Perhaps just a little bit disconcerting...
12:09PM We spotted people from Macy's, Footlocker, and other retailers on the way in.
12:08PM Now, we're looking at the merchant side -- important, as there are a number of merchants in the house.
12:08PM When you tap to pay, all the loyalty rewards are applied and credited. No need to shuffle through a wallet full of flimsy cards.
12:08PM A pie coupon has popped up. So much for that diet...
12:07PM Based on your location the phone knows to bring up your shopping list. We're apparently out of avocados.
12:07PM We're going to walk through an example now, going grocery shopping.
12:07PM Joined by Citi, Mastercard, and Sprint.
12:07PM Stephanie is back, telling us how things are going to merge.
12:06PM "By working together we'll be able to truly transform the shopping experience."
12:06PM Mastercard estimates that, by next year, half of all phones will have NFC built in.
12:06PM Google Wallet is compatible with PayPass, meaning when this goes live you'll have compatibility in your phone.
12:05PM No more currency exchange! No more bizarre looking coins rattling around in desks and drawers for years after vacations.
12:05PM A phone could, in theory, work anywhere in the world if PayPass is accepted.
12:04PM They've provided the NFC foundation that we'll see "leveraged today by Google."
12:04PM PayPass was embedded in a Nokia phone almost a decade ago -- the basis for what we'll be seeing today.
12:04PM Time for Ed McLaughlan from Mastercard.
12:03PM "We are on the cusp of the next major change."
12:03PM We're looking at a 1950 Diners' Club card and the evolution to now, PayPass in 2011.
12:03PM Google says this is because shopping is not a "truly magical experience." Yes, the euphemisms are in the house!
12:02PM Still, e-commerce is only eight percent of overall retail.
12:02PM We wonder how many of them are PSN subscribers.
12:02PM in 1998 70% of consumers wouldn't pay online. Today, over 70% do. 180 degree transaction.
12:02PM "Virtually every retail brand has invested in building an ecommerce website... you're literally seeing every retail brand, every consumer brand offline come online."
12:01PM eCommerce surpassed $227 billion in 2010, will go over a trillion in 2013.
12:01PM "Your phone will be your wallet -- just tap, pay, and save."
12:01PM This system will "bring together all the pieces of the ecosystem" for payments.
12:00PM She's saying that all commerce, not just e-commerce, needs a reboot.
12:00PM Asking for carriers and banks to create "tomorrow's next best shopping experience."
12:00PM "Today we are announcing a couple of products: Google Wallet and Google Offers"
11:59AM She came over from eBay and PayPal, joining to "improve commerce" for consumers.
11:59AM Stephanie Tilenius, VP of Commerce at Google is on the stage.
11:59AM And here we go folks...
11:57AM Being washed in shades of purple, lime, tangerine, aqua -- always changing, never primary.
11:53AM Silencing our devices. Would hate to be that guy.
11:53AM "The program will begin in a few moments."
11:51AM This is some serious salsa/rap hybrid stuff we have playing here. We're stumped as to the source, and Shazam up and threw a Force Quit trying to figure it out.
11:45AM And some good times.
11:45AM And we're in our seats! Smooth latin beats and lots of multi-colored lights. Get ready for some trippy pics.