Google Wallet: Will it be a success in the near future? – Part 1

Google, Inc. has a tradition of getting off to a flimsy start. There are numerous examples in the more-than-a-decade long history of the company but it has succeeded in those ventures where it plans to stick its head in. However, the recent endeavour undertaken by Google has taken more toll on its capital than any other project.

“Google often jumps head-first into new projects, paddles around, and then decides whether it’s worth staying in,” said Michael Gartenberg, an analyst covering mobile for Gartner. “I don’t think Google would pull the plug on Google Wallet entirely, but they may be slowing down and regrouping.”

Almost six months ago, the company rolled out a new project called the Google Wallet, an attempt to start the electronic currency trade in the US. This is an idea envisaged by a number of technology leaders in the past including Google CEO Larry Page and Microsoft Ex-President Bill Gates.

However, the very idea to spring the fashion of electronic money transactions from computers and mobile devices has never caught its roots in any market, let alone the US, one of the promising place for technology advancements.

Google Wallet is another shot in that direction and although it has the strong financial backing and good will of its parent company, it has failed to lure partners and customers to business. However, it seems that Google is still interested in the project.

“We are very enthusiastic about the start we’ve had with Google Wallet,” said Nate Tyler, a spokesman for Google. “We believe Google Wallet represents an opportunity to bring more value to the transaction, so that consumers can not only pay, but also save and earn rewards when they make purchases.”

Since the start of the project six months ago, the company has only swayed Sprint Nextel to become its partner and that has persuaded only a handful of customers to use the service.

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Posted by Usman Khalid on Feb 15 2012. Filed under Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.