October 22, 2013
I recall seeing a video of Google Glass for the first time and how amazed I was. Google Glass, a futuristic concept is now a reality, thanks to the innovations happening around us in gadgets, networking, materials, software and internet.
To cash in on this innovation called Google Glass, financial institutions, payment app makers, start-ups are lining up to be amongst the first few to offer real payments via Google Glass. The companies interested in introducing their services through Google Glass say that the time to make and receive payments would be faster than any other platforms.
Some of the companies who are coming up with new offerings or tweaking their existing offerings to work with Google Glass. Lets talk about some of the major initiatives:
· Intuit – The Company’s GoPayment app has been tweaked to work with Google Glass. The app syncs Google Glass with a user’s credit card information to make and receive payments. Through this app a user can scan a QR code at a POS terminal and authenticate transactions. You can see the video below to understand how GoPayment and Google Glass help you make a payment.
· MasterCard – MasterPass, a digital wallet from MasterCard is also being tweaked to work with Google Glass. One of the examples of using MasterPass on Google Glass can be as simple as a user searching for a restaurant, read through the menu and make a payment through Google Glass. As a next step, the user needs to walk in to the restaurant, grab the food item/s and go. In the video below one of MasterCard’s employees is seen demonstrating MasterPass usage on Google Glass at the Gitex Technology Show at Dubai World Trade Center.
Source: Joseph George
· RedBottle Design – The company from California, has come up with an app called GlassPay. The app enables users to pay in-store through Bitcoins. Through GlassPay app, Google Glass users and Android users may experience a combination of physical and virtual shopping. A user interested to buy items at a grocery store needs to scan the barcodes of the products. The products are added to a virtual shopping cart and paid through Bitcoins virtually. Such an experience would eliminate the queuing process making the shopping experience at a grocery store truly virtual. However, there have also been studies from Watch My Wallet, which indicate such self check out process would lead to shoplifting.
LTP View: Such innovations can certainly have positive influence in enhancing a user’s shopping experience. It would be interesting to note how open the users would be to adopt Google Glass as a payment platform. With many payment platforms and enabling payment technologies available in the market today introduction of Google Glass may just add to the confusion of implementers. Two of the biggest drivers that would encourage users to adopt new payment platforms are ease of use and security. If Google Glass, could provide both of those, that could be something.