Google Inc (NASDAQ:GOOG) has publicly been mum about it, but some information leaked out on Google’s own Web site indicating that its Google Wallet digital payment service may introduce a physical card, where all of a user’s payments cards, rewards, etc., that are in Google Wallet will be used on the card. This seems to be in response to a very slow integration of Google Inc (NASDAQ:GOOG) Wallet with retailers, especially national chains, and with Google Wallet being countered by a retail consortium that is coming up with its own digital system to compete, it seems that Google Inc (GOOG) is looking to get a foothold into the marketplace. After such a bad quarterly earnings report last month, it’s possible that investors like billionaire fund manager David Tepper of Appaloosa Management LP will like to see a new attempt to establish consistent revenue streams.
Google Inc (NASDAQ:GOOG), however, has not made an official announcement – information about such a purchase card was leaked on Google’s Web site. The mentions of the card have been removed at this point, but it was clearly on the site, describing how the card can and would be sued with merchants. This would seem to be used like a normal credit or debit card, except every account that users have on the Wallet would be available on the one card – which means that if the card is lost or stolen, the user only needs to cancel that card and replace it, rather than having to replace and cancel all of the accounts as well.
With the information that was briefly posted on the site, Google Inc (NASDAQ:GOOG) seemed to be working with a limited number of mobile devices and limited carriers – mainly Samsung Electronics Co. Ltd. devices, along with a couple LG devices and an Asus tablet, that are run on Sprint Nextel Corporation (NYSE:S) network along with limited exposure on MetroPCS Communications Inc (NYSE:PCS) and Virgin Mobile USA, Inc. Noteworthy is that the cellular market leaders, AT&T Inc (NYSE:T) and Verizon Communications Inc (NYSE:VZ) were not featured. Whether that will change by the time the Wallet Card is released remains to be seen.
If Google Inc (NASDAQ:GOOG) does introduce the Wallet Card as a better way to access retailers, do you think it will take off and encourage users to access the mobile app? As an investor, would this be a good move for Google Inc (GOOG) and its bottom line revenue numbers after a disastrous earnings report last month? Give us your feedback about this, and whether you would use a digital payment service without the card.