• http://mobilepaymentstoday.com James

    I agree that it’s symbolic in a sense, but at this stage symbols matter. Also, a couple of points are incorrect.

    First, Square is not a competitor for the Google Wallet. Square is a mobile point of sale product. That means it’s a mobile phone AS the point of sale not AT the point of sale. Second, Google’s Wallet is never meant to be a “closed loop transaction.” I get your meaning that Google wants to “close the loop” with online and offline marketing, but “closed loop transaction” has a specific meaning in payments. In payments it means the merchant processes a transaction without riding the rails of Visa or MasterCard. Google’s Wallet is meant to be wide open and calling it a “closed loop transaction” is confusing.

    All the best!
    James Wester