This is noteworthy because it shows Google’s “offers” portfolio is going to be larger than daily deals and success is not entirely contingent upon that individual product. Google intends to enable advertisers to broadly get in on the Offers/Wallet infrastructure.

This also shows how Google will connect AdWords to offers and later redemption, for a kind of “closed loop” or quasi-closed-loop transaction. Google will likely provide analytics on the number of CTRs that lead to “saves” that in turn lead to redemptions — online or off. Indeed the Offers-Wallet “value chain” will lead all the way from the SERP to the point of sale.

Greg Sterling pretty much nails it. Google is the only company positioned to play across the entire value chain of offers from discovery - purchase - redemption - analytics - optimization, both online and off. And that's why I'm here! :)