Google Set to Launch Google Wallet 2.0

MOUNTAIN VIEW, Calif. -- Google will release a new version of its Google Wallet, according to an NFC Times report.

The news outlet added the Internet search giant will announce the upcoming release of Google Wallet 2.0 by mid-November. What makes the new mobile wallet much different than its predecessor, released in August, is the possibility of expanding the platform to other devices, including Apple iPhones.

Additionally, Google Wallet 2.0 will reportedly include a greater role for offers, and the company will also launch a co-branded credit card with Discover Financial Services' U.S. acceptance network.

To back up its statements, NFC Times quoted Osama Bedier, Google's vice president of wallet and payments, who said at the recent Money 2020 conference in Las Vegas that Google was "putting the finishing touches" on the Google Wallet 2.0. However, Bedier did not reveal any further details.

Google Wallet 2.0 will continue to use near field communication (NFC) technology to conduct transactions from a prepaid application (app) on smartphones. Apple smartphones are not compatible with NFC technology. However, the news source said Google will still ask Apple for permission to have a Google Wallet app available in the Apple App Store. The app could be used for consumers to process online transactions.

"Our goal is ubiquity, to be on every smartphone, every (device)," Bedier told NFC Times. "Everyone who has a Google account, which is practically everyone, we want them to use Google Wallet."