Google Wallet, which has been around since 2011, is a virtual wallet that is funded by transfers from other Google Wallet users or money transferred from other bank and credit card accounts. You can then use that balance to pay with a mobile phone at certain retailers.
The venture hasn't really taken off, however -- iPhones haven't adopted the technology necessary to use the in-store payment feature, and many retailers don't have the appropriate point-of-sale equipment to process the transactions.
But with the launch of this new prepaid card, a phone is no longer necessary to pay in stores -- customers can simply swipe their card the old-fashioned way instead.
The Google Wallet Card can be used at all locations where MasterCard is accepted, and it doesn't come with any fees. It doesn't even charge you to withdraw cash at the ATM (though some ATMs will charge you a separate fee). Read more >>