Google Wallet turns your phone into a wallet.

Begins field test today in the US, full roll out later in the year. Launch is on Android but can't see it not coming to the iPhone at some point.

Google Wallet is a cashless system (NFC) using a 'tap' technique similar to an Oyster card. Launch announcements covered its use as a store loyalty card. Store voucher and cashless payments

Questions at the launch centred on the data privacy issues (held by each of the stores own systems) and why you still need to sign, Google says this is just piece of mind for the shops. Big question of course what happens if you lose your phone (Mathew) Google Wallet uses a similar system to the Apple 'wipe my phone' remote control via a laptop

This is a video of retail partners talking about why they have signed up to the system = http://bit.ly/jeI4Vd

This is a link to the official press release = http://bit.ly/ltkZ3h

If you are one of those worried about Google taking over, do note they are NOT taking any revenue from the payment side of the system just the deals & voucher side, so pretty soon they will be able to undercut credit card payment systems in all stores............be scared

Small note for students of design, the logo for Google Wallet is strikingly similar to Google Wave the bonkers collaboration tool they launched a few years ago that died shortly after because know one could work out what to do with it.

You can also see this on my other blog = http://philipslade.posterous.com, why have I got two blogs? can't deceide on formats so went for both, content almost the same on both -ish