On the Google Blog, Osama Bedier, the Vice President of Payments, announced the official launch of Google Wallet.
"What is Google Wallet?" you ask. Well, it is a new mobile application that works with Citi, Mastercard, Sprint, and First Data to make it easier to "tap, pay, and save." Built upon the near field communication (NFC) technology, customers who own the new Sprint Nexus S 4G should expect to see an over-the-air update soon.
Update: Business Wire reported yesterday that Visa joins Google Wallet, too.
To get additional details on Google Wallet, check out the video below.
If you cannot see the video, click here.