Introducing 'Wallet' by Google for NFC devices

Introducing 'Wallet' by Google for NFC devices
Google has introduced their "Wallet" automatic mobile phone payment system today, turning NFC-enabled devices into credit cards.

Users with Android devices will be able to pay for groceries or other items by waving their phones in front of NFC readers.



Google, alongside launching their daily deal site Google Offers, says it envisions Android devices eventually being a "personal financial hub" for coupons, loyalty points, payments, receipts and more.

As a way to not scare the credit card firms, Google will not take any share of the fees generated from Wallet payments, instead relying on added revenue from traffic, ads and Google Offers.

Wallet will launch over the summer, with trials starting sooner in NYC and San Francisco. A few of the retailers that will soon accept mobile payments are Macy’s, Subway, Walgreens, Toys “R” Us, Bloomingdale’s and Guess.

As with physical credit cards, users have zero liability if there are fraudulent purchases and users need a PIN number to access the app, meaning the chip can't be accessed by hackers.

Written by: Andre Yoskowitz @ 27 May 2011 1:29
Tags
NFC Google Wallet
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  • 4 comments
  • staciesilva (unverified)

    "Printapons" features daily a deal a day on the best things to do, see, eat, and buy in your local city and a variety of other cities across the United States.

    27.5.2011 02:24 #1

  • Gplanet

    sweet

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    27.5.2011 05:29 #2

  • hearme0

    Stupidest idea EVER........Anyone that buys into this security nightmare is an insecure fool. NFC has a sh*tstorm of breachable flaws. Have fun people. Use your phone, lose your phone and your fuc*ed......or stand near someone with a reciever at less tha 20cm away.

    Hate to say this people but credit cards are here for AT LEAST another 20 years, if not 40

    27.5.2011 12:58 #3

  • Azuran

    Originally posted by hearme0: Stupidest idea EVER........Anyone that buys into this security nightmare is an insecure fool. NFC has a sh*tstorm of breachable flaws. Have fun people. Use your phone, lose your phone and your fuc*ed......or stand near someone with a reciever at less tha 20cm away.

    Hate to say this people but credit cards are here for AT LEAST another 20 years, if not 40
    That would be true regardless of wallet's security issues.

    27.5.2011 15:23 #4

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