Google (GOOG +1.1%) has spent $300M acquiring startups to bolster Wallet and has less than 10M...

|By:, SA News Editor

Google (GOOG +1.1%) has spent $300M acquiring startups to bolster Wallet and has less than 10M downloads to show for it, BloombergBusinessweek observes. Chalk up the mobile payments platform's struggles to carrier intransigence (though Sprint supports Wallet, rivals back Isis, which isn't faring that well either) and Wallet's reliance on NFC tech, which isn't supported by Apple and is deemed less convenient by many than standard card swipes. Google recently gave Wallet several new features, including a Gmail money-attachment option, but Larry Page reportedly shelved plans for a Wallet credit card. On top of Isis, competition is provided by Square, PayPal, and Groupon.