There is nothing like innovation and Google has done it again. The smartphone is becoming an increasingly important tool with access to pretty much anything, no matter where in the world we are. It’s also displacing other gadgets and object in our lives. Take satellite navigation for example, I used to have a TOM TOM but now I run the App right off my iPhone 4, I used to carry a USB stick, now I just use DropBox and access through my smartphone, and a camera? I’ll probably never bUy a digital camera or camcorder again because guess what, I have them already built into a device I carry with me all the time.
But what else will they replace? Take a look at this video, it’s Google replacing the credit card with Google Wallet. Yes, we have heard about this technology for a while but now it’s a reality. What’s more it fully supports Location Based Marketing (LBM) one of my top 5 marketing trend predictions for 2012, by promoting special offers and vouchers based on preferences and geo-location. It supports credit carDs and even gift cards. Surely it’s only a matter of time before it completely replaces the wallet as we know it today.
I have to say it worries me a little bit, the advancements in cyber crime over the last few years combined with innovations like this may will open up a wealth of opportunity for cyber criminals but I must admit, I love the thought of losing another ‘object’ from my pockets and simplifying my life even more.
It will be interesting to see how this one pans out but in my opinion it’s definitely the future of retail and will revolutionise the way we pay for things.