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Google’s weak Wallet

By
Post Staff Report
Published March 22, 2012, 4:00 a.m. ET

Google is weighing changes aimed at improving its Google Wallet mobile-payment system following slow adoption and the departure of two key managers, according to sources.

The company is considering sharing revenue with carriers such as Verizon Wireless and AT&T to get them to embrace the technology, which lets users pay for items at checkout by tapping phones on a reader device, said the people, who asked not to be named because the discussions are private.

Google aims to spur demand for its Wallet app, which is designed to boost its share of the multibillion-dollar market for mobile advertising by letting it target shoppers with coupons and promotions.

Separately, AllThingsDigital reported that on the heels of Apple breaking with tradition earlier this week by issuing a dividend, investors are anticipating a payout from Google.

With $44.63 billion in cash and cash equivalents on its balance sheet as of Dec. 31, the search behemoth is the most cash-rich tech company among the big dividend holdouts. In fact, it is now the only tech company with a market cap above $100 billion that does not offer a dividend.