Macy's, Walgreens and Guess Sign on to Test Google Wallet

Major retailers are joining forces with Google to test Google Wallet, an Android application that allows consumers to use virtual versions of their existing plastic credit cards. Consumers can pay for an item using a credit card or gift card, redeem promotions and earn loyalty points — all with a single tap of their smartphone.
Google Wallet uses near field communication (NFC) to make secure payments by tapping the phone on any MasterCard PayPass-enabled terminal at checkout. All payment card credentials are encrypted and stored on a chip called the secure element that is separate from the phone memory and is only accessible by authorized programs. Google is working with VeriFone, Hypercom, Ingenico, VIVOTech and others to develop the next generation POS system.
Retailers participating in the trail include American Eagle Outfitters, Macy's, Bloomingdale's, Champs Sports, The Container Store, Duane Reade, Foot Locker, Guess, Jamba Juice, Peet's Coffee & Tea, RadioShack, Subway, Toys "R" Us and Walgreens.
"Google Wallet allows us to harness the power of mobile technology to enhance our in-store shopping experience and helps bridge the gap between our online and in-store consumer interactions," says Martine Reardon, executive vice president of marketing and advertising for Macy's. "Macy's is always looking for cutting-edge technology that will deliver value and engage our customers in personal ways. Google Wallet delivers this unique interaction across channels."