Google Wallet is an app that you can install in your mobile device so that you can store virtual versions of your credit card, bank account details, coupons, gift cards, loyalty cards and even your boarding passes. Basically, anything that you can find in your real wallet, you can now store in your Google Wallet.
With this app, you can shop in brick and mortar stores, buy online, and send money to anyone safely and securely.
How It Works
Google Wallet utilizes NFC (near-field communications) technology and you would need to hold your mobile device near the contactless reader during the checkout process. In some cases, you will also need to enter your PIN to complete your purchase. For those using Visa, Amex, MasterCard or Discover Paypass, simply tap your virtual credit card to pay (instead of swiping). Here’s a bit more on how it works:
To get started, simply install the Google Wallet app and then activate your credit card. Enter the account number, card type and other required personal information. Google will then verify your information with the credit card provider and FirstData so that you can start using this service.
Your Google Wallet app must be open so you can make a payment. Simply place your mobile device near the receiver and then tap the device.
How Secure is Google Wallet?
It’s security is, in a word, solid. Google Wallet enables you to shop online or offline securely. Its fraud protection covers 100% of verified unauthorized transactions and they also check for fraud 24 hours a day, 7 days a week.
If you lose your phone or your Google Wallet Card, all you have to do is to disable the app or card and file a claim if you notice any suspicious activity. A PIN is also required to unlock your Google Wallet app or to withdraw money.
Advantages of Using Google Wallet
First of all, this app seems like a very convenient tool to make purchases. By simply tapping your phone, you can already make payments, redeem offers, use gift cards and coupons, and so on. Having this app will surely lighten your purse/wallet. Not to mention, it will help you become more organized. That’s because you only need a single app for everything.
Disadvantages of Using Google Wallet
Unfortunately, this technology is still in its infancy. So, it will only work in the US although Google has plans of making it available in other parts of the world in the near future.
In addition, many merchants do not use NFC technology in their stores and majority of shops in the US do not have this option either. The good news is, Google has partnered with Citi and PayPass, so it won’t be long before they will gain a much larger vendor support.
Google Wallet appeals to most people because it prevents them from losing their loyalty cards and even credit cards. With just one app for all your cards, everything becomes more accessible and convenient. Plus, with the expansion of features of the Google Wallet, it’s becoming more sensible for smartphone users to use this app.