Google May Get Creative to Save Mobile Payments Platform

Sources close to Google tell Bloomberg this week that the Internet search giant has no shortage of options on the table for making its struggling Google Wallet payment system work.

Google Inc. is weighing changes aimed at improving its Google Wallet mobile-payment system following slow adoption and the departure of two key managers, according to people with knowledge of the project.

According to the report, one of the ideas central to Google’s plan is the sharing of revenue with carriers such as Verizon Wireless and AT&T Inc. “to get them to embrace the technology, which lets users pay for items at checkout by tapping phones on a reader device, said the people, who asked not to be named because the discussions are private.”

Unfortunately, few phones presently have the technology required to take full advantage of the Google’s platform. With time – and more support from carriers and hardware makers – that will change.

“They [Google] are in a bit of a re-evaluation pattern right now,” Rick Oglesby, an analyst at Boston-based research firm Aite Group, tells Bloomberg. “It’s going much slower than anticipated.”