Google Wallet introduced, and PayPal is upset

Google has recently announced their new mobile payment system with Google Wallet. It is a free Android Android App that will arrive sometime this summer that will allow users to make payments for products and/or services.

Google Wallet, which is open platform software, was officially unveiled at a massive event a few days ago. This deal has been in the works for a while, and a lot of big companies like MasterCard, Citi, Sprint, and First Data have invested in it. In order to encourage more growth an usage of this unique program, Google Wallet is going to encourage a lot of deals like discounts, promotions, loyalty rewards, and the like.

It sounds like a terrific deal for consumers, but you know who isn’t happy about it? PayPal. Yeah, they are suing Google, accusing Google Wallet’s project leader, Osama Bedier, of “feeding confidential PayPal information to Google so that it can develop the NFC mobile payment system”.

Apparently, PayPal and Google were trying to make a deal so that users could pay the Android Market via PayPal. However, it Google has their own mobile payment system, that seems like that deal is off. Something tells me that we are going to hear a lot about this in the near and far future.

However, if you need some serious open payment payment system, you’ll need to wait. I wish I had a more exact date.