first_imgGoogle Wallet was supposed to be the contactless payment service that freed us from our old-fashioned wallets. Lack of adoption, now coupled with the departure of several top Wallet executives at Google have left the future of the ill-fated system in question. Google is looking to revitalize Wallet using something few companies can offer: huge piles of money you could ski down.The crux of the plan for Wallet, as reported by Bloomberg, is that Google would enter into a revenue sharing agreement with carriers like Verizon Wireless and AT&T to ensure that Wallet is on phones sold by the networks. T-Mobile, AT&T, and Verizon have all announced plans to back a competing standard for contactless payments called ISIS. It’s unclear if Google can lay out enough cash to win the carriers over.Google wallet and ISIS both work by employing near field communication (NFC) to get a device and reader kiosk talking to each other. Google chose to partner with MasterCard to gain access to its PayPass ecosystem of card readers, but the deal left consumers with very few choices for compatible credit card accounts.Perhaps more troublesome for Google Wallet has been the almost complete lack of compatible phones. The Nexus S 4G on Sprint remains the only officially supported device, with the flagship LTE Galaxy Nexus being left out. An imported GSM Galaxy Nexus can install Google Wallet, but that adds virtually nothing the the Google Wallet ranks.Late last year, Google went so far as to fold its Google Checkout service into Wallet; the brand isn’t going anywhere. However, with the fallout after the recent Google Wallet hacks, the carriers have all the power in any negotiations, having already cited a lack of security. With ISIS expected to launch this year, Google is running out of time to get its act together.via Bloomberglast_img