May 26, 2011
Google (NASDAQ:GOOG) officially unveiled "Google Wallet," which brings shoppers a step closer to paying for goods by waving their phones at the checkout counter.
The phone will debut with support from Citigroup (NYSE:C)-issued MasterCard (NYSE:MA) and Google's own prepaid card.
The company called it a "single-tap" solution.
Google's Vice President of payments, Osama Bedier, said it was up to the retailer to decide if the shopper has to sign on the screen.
Google has a potential upside of 37.1% based on a current price of $519.31 and an average consensus analyst price target of $711.8.
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