Google is bringing its digital wallet to the iPhone in
its latest attempt to upstage Apple on its own popular device.
Today's release of the Google Wallet app represents a
challenge to the Passbook program that Apple has built into the iPhone's
operating system. Both Google Wallet and
Passbook allow iPhone users to store loyalty cards from some merchants and scan
coupons offering discounts.
Google Wallet also allows its users to send money and
make purchases on some mobile websites by storing a debit or credit card
account on the app. Payment information can also be stored in Passbook.
The arrival of Google Wallet on the iPhone comes a few
days after a similar version was released to smartphones running on Google's
Android software.
Google gives away Android for free, a factor that has
helped siphon sales away from the iPhone by enabling other smartphone makers to
sell their devices at cheaper prices.
About three out of every four smartphones sold during
the first half of this year ran on Android software, according to the research
firm Gartner Inc. In comparison, the iPhone had a 16% share of the worldwide
market.
The higher-priced iPhones tend to attract more affluent
consumers who are more likely to spend money through their devices, one of the
reasons that Google is eager to connect with Apple customers.
Google has previously sought to outshine Apple's
built-in iPhone apps with its digital maps and a mobile version of its Chrome
browser.
By getting people to use its services on as many
devices as possible, Google hopes to make more money by selling more digital
advertising.
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