Google: mobile wallet in 2011, Schmidt stepping down as CEO

Google CEO Eric Schmidt

Google CEO Eric Schmidt

Breaking: Just saw this, wow, Eric Schmidt is stepping down as CEO of Google to be replaced by Larry Page. From CNN: “We’ve been talking about how best to simplify our management structure and speed up decision making for a long time,” Schmidt said in a prepared statement. “By clarifying our individual roles we’ll create clearer responsibility and accountability at the top of the company.”

The rumor mill is saying that Schmidt is going to take over an ailing Steve Jobs’ role as CEO of Apple.

In an article on the Harvard Review, Google CEO Eric Schmidt talks about Google’s 2011 strategic initiatives, and they are all mobile.  The second is about mobile money.

“Second, we must attend to the development of mobile money. Phones, as we know, are used as banks in many poorer parts of the world—and modern technology means that their use as financial tools can go much further than that.”

The Nexus S phone is the first phone in the US to have an NFC chip.  Google signaled its intentions in December launching the Places program as a beta test in Portland.

You may also remember the deal with AT&T, Verizon Wireless and T-Mobile creating a new mobile payments service called Isis. They have not updated their site since the announcement was made so nothing further on that for now.

About Daniel Davenport

Daniel is a digital media executive with internet and broadcast experience. Daniel is currently the executive strategy director at THINK Interactive.


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