Google has inked a distribution deal with Verizon, T-Mobile and AT&T to pre-install Google Wallet on Android phones. And it has also purchased intellectual property from mobile payments company Softcard. The move comes days after Samsung acquired mobile wallet startup LoopPay as part of its bid to compete against Apple Pay.
"This will help get Google Wallet in front of more potential users, but the mobile payments space in the US will continue to be competitive and fragmented for at least the next few years as various stakeholders vie to get traction with consumers," says Bryan Yeager, analyst at eMarketer. "This is an important step for Google Wallet, but it won't be the only mobile wallet option Android users will have. Samsung's recent acquisition of LoopPay and intention to release its own mobile payments system shows that deal activity doesn't necessarily equate to market consolidation. "
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