Aug 13, 2012

Google Wallet: Google’s new wonder mobile payment service !

It’s really tedious standing in long queues for making payments for your shopping and go through filling online payment details for your online shopping. However, Google has stepped up to take up this challenge and find a solution and end all woes connected to it!!! Sounds almost impossible? However, that’s a fact. Google has launched an android mobile app named “Google wallet”, a virtual wallet, which will replace your wallet with its mobile payment service. It’s a new way to make electronic payment to vendors where you have shopped. 

Google wallet is an app from Google which converts your mobile into a wallet. With Google wallet you can pay, save and get discount coupons and offers from Google. You can use Google wallet service through your phone to make payment through near field communication (NFC) at shopping stores which are offering paypass payment service. Google wallet gives an amazing shopping experience to its users.

Working of Google Wallet

Google wallet is working on a new wireless technology called NFC by which you can communicate between two devices. Initially, Google offers you to make payments only with Citi MasterCard and Google prepaid card. It will work the same way as your existing credit and debit card. Instead of swiping a credit card, you can make a payment just by touching the two devices or place them next to the pay pass terminal; it will automatically sync with your mobile phone and make payment with credit or debit card details saved in your mobile. It’s necessary that your mobile screen is not locked and Google wallet app is open at the time of payment.

Google wallet is an android app which works in sync with your Smartphone device. Its saves all your credit/ debit cards details within your Smartphone device. Google wallet hooks up your Google offers. Hence, when you shop and want to use your offer coupons and reward points, all you have to do is just tap your mobile phone at paypass terminal, it will mechanically use your coupon codes and award points to you.

An online shopping experience with Google wallet is much easier. For online shopping, all you need to create is an account on Google and within it all your credit/ debit card details are to be stored. During payment process, when you click on “pay button”, it will ask you to login in your account. And lo and behold! It’s done. It automatically obtains your stored credit/debit card information and makes the necessary payment.

In the recently available android phones not all device supports Google wallet, only Galaxy Nexus S the mobile phone from Google supports Google wallet. 

Currently, Google wallet payment service is available only in the United States. Many mercantile vendors like Subway, American Eagle Outfitters, the container shop, Macy’s, etc. in US are now offering Google wallet payment system to their customers.

Why should one need Google wallet?

In recent times ,everyone possess a  mobile and carry it along with them wherever they go .It’s so cool to go out without the hassle of carrying a credit card and  cash, when you have this facility to carry in it on your mobile device. With Google wallet you can go out n do shopping with your phone, you don’t have to worry about your payment cards. You can also store your boarding pass, movie ticket and keys into Google wallet.

Google wallet is the fastest way to perform an online and offline transaction. You don’t need to go through by filling your credit card details for your transaction. And this service is totally free, Google doesn’t charge for using this service on your phone.

When you use Google wallet, Special offers and discounts are automatically redeemed with your payment. Hence you can walk in and shop without the hassle of remembering to carry gift vouchers and offer coupons with you all the time.

But, what about security and privacy?

Google wallet is operational on mobile phones hence the question that arises is how safe is it? It’s good to know that, Google wallet is totally secured from all threats. Google wallet is password protected by 4 digit Google wallet PIN. If any unauthorized access is done over the phone it will not permit any usage because they have made it a compulsion to enter the wallet PIN while making any payment. 

Users are apprehensive about what happens when their phone is lost or stolen? It’s nothing to worry about. If your phone is lost or stolen then you can disable your account online. And by resetting your credit card details from your account you are totally protect from any illegal access. However, for more protection, you will have to inform your bank about “stopping service” for that credit/ debit card.

Google stores all your credit/ debit card details in an encrypted format on their server. So it’s totally safe while making an online payment as all your information is in an encrypted format. Google has created a chip named “Secure Elements” which provides advanced security to stored data.

As most of the transaction is done through our account most users think that Google keeps the records of transaction or purchase with it.  But that’s not true at all. All your transactions have only details about the transaction amount, location and date. So, rest assured all your transaction details are private to you only. And also Google doesn’t share user’s details with any merchant and hence nobody can access your information directly. Truly a wonder concept by Google!!!
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