Google abandons plans for physical credi

May 13 [Mon], 2013, 2:29
Google Wallet updateA new report suggests thatwill unveil an update to its forgottenservice later this month. According to AllThingsD, Google was originally planning toat its annual I/O developers event, however it has since decided against it. The company will now reportedly announce new rewards, offers and loyalty points for Wallet users available from a wider selection of merchants to help the service better compete with Apples . Googles vision of creating a mobile wallet has been hampered by carriers, which have favored . The lack of NFC-equipped devices and the limited number of compatible merchant sales terminals have also hurt Googles efforts. A physical card would have allowed Google to bring its Wallet service to the masses, however CEO Larry Page was said to be displeased with a recent demo and decided to scrap the project.

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