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Is Google Wallet A Boondoggle?

Google is no stranger to financially dubious endeavors, but Google Wallet is reportedly proving to be a business disaster. “The mobile software that allows Android users to pay for purchases online and in stores with their phones … has become a money pit,” according to Bloomberg Businessweek. “The company has dedicated hundreds of developers to Wallet and spent about $300 million to acquire digital payment startups to help develop the app.”


Read the whole story at Business Week »

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