Google partners with AT&T Mobility, T-Mobile USA and Verizon Wireless to push Wallet service

Google Inc has partnered with several large U.S. wireless carriers to pre-install its electronic payment service on phones, as the companies seek to counter Apple Inc's recent entry into the nascent market for mobile payments.

“Under this relationship, the Google Wallet app, including the tap and pay functionality, will come pre-installed on Android phones (running KitKat or higher) sold by these carriers in the US later this year. We’re also acquiring some exciting technology and intellectual property from Softcard to make Google Wallet better”, the company said in its official blog.

Released in 2011, Google Wallet app stores a consumer's credit or debit card information and allows shoppers to pay for goods by tapping their phone against a special terminal at a retail store's checkout counter.