Google Launches Groupon Killer

Google’s Eric Schmidt appeared on stage at the D Conference today to show off the company’s new mobile wallet and deals strategy that looks and acts a lot like Groupon.

Announced last week, the wallet will let Android smartphone users tap and pay for items at the register and redeem offers at dozens of retailers, using near field technology.

The wallet will be accompanied and funded by a deals network, much like Groupon, which provides discounts and a loyalty rewards program.

Google Wallet kicks off in New York and San Francisco at retailers such as Macy’s, Subway and The Container Store, and will expand nationwide this summer. Tomorrow, it’s announcing the launch of the company’s daily deals service in Portland, Oregon.

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