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Wallet Wars: Sprint Delivers Another Blow to Google

Sprint is Google Wallet's only partner, and now Sprint is said to be creating its own


According to NFC Times, it looks as though Sprint (NYSE:S) is developing its own mobile wallet. If true, the move would be a major setback for Google (NASDAQ:GOOG), since Sprint is the search giant’s only partner for Google Wallet.

Why does Sprint want to build its own wallet? It would be a great way to differentiate Sprint’s offerings and yes, grab higher margins. It would also give the company more control over the security of payments.

For major carriers, an e-wallet has become a must-have. Verizon Wireless (NYSE:VZ), AT&T (NYSE:T) and T-Mobile USA are in a joint venture to create their own. Still in the development stage, it will be called Isis.

Of course, there are other players in this crowded market, including eBay’s (NASDAQ:EBAY) ubiquitous PayPal and upcoming wallets from Visa (NYSE:V) and MasterCard Worldwide (NYSE:MA).

–Tom Taulli, InvestorPlace

Article printed from InvestorPlace Media,

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