The first wave of cashless transactions was heralded by credit and debit cards. This was further augmented by online payment systems that invalidated the necessity to carry your card while making a payment. Now, with the proliferation of Smartphones that have access to the internet, people are switching to mobile payment options. This is being termed as a wallet free transaction mechanism. One of the major players in this segment is Google. Their app, aptly named Google Wallet app is available exclusively for Android users and is emerging as a good option for mobile payments.
Currently, both the app and the service provided by the app are free. It supports all major credit and debit cards such as Visa, Master Card, American Express and Discover. Google Wallet app works by creating a secure Google Wallet account to which you upload your credit card or debit card information. This information is then protected by a separate PIN number. You make payments online using the Google Wallet app by choosing the credit or debit card that you want to make payments. This app can be also used in stores. For it to be used in stores, first you need to have an Android smartphone that has NFC enabled. Further the store should have a point of sale terminal that has an NFC reader to receive the information from your phone. Payment occurs after the information is transmitted and your PIN is accepted. You will receive a copy of the transaction on your phone once it is completed. It really requires no input from the store clerk.
Google Wallet App
One of the current drawbacks of this app is that in store payment is supported on a very limited range of Android Smartphones. The phones that it works on are Galaxy Nexus, LG Viper, LG Optimus, HTC Evo 4G and Samsung Galaxy S3. Overall the current version of this app has had a major overhaul from its first edition. Initially you needed a special prepaid Google card and a card from Citibank. Now all major credit and debit cards are supported. Gift cards issued by some stores also work on this system. The number of stores that have the required Pay Pass reader has also increased. Gas stations, chain pharmacies, Macy’s, New Jersey Transit and many more stores have installed the Pay Pass reader in stores. You can identify the Pay Pass reader by its dish shape. It is attached to a credit card reader.
Currently, downloading and installing Google Wallet app from the Google Play store is not as easy as it should be. This is understandable considering that it is a new technology and consumers need to get used to it more before Google is ready to make it a default app on its Android phones. The beauty of this service is that Google has taken the care to ensure that this service focuses on the users. It is the only service of its kind that goes beyond online payments and allows you to make payments in store. True, there’s a long way to go before the majority leaves their credit cards behind and use this service. But it shows a good deal of promise in being the wave of the future. The iPhone may never support this technology in this form as it would require them to install an NFC chip on the newer line of phones and then partner with a manufacturer for compatibility with the point of sale terminals.
One of the major cons of this service is the convoluted install process. The Google Wallet website confuses rather than clarifies. Installing the app from the Google Play store can be confusing, as can transitioning from one Android phone to another. Once the app is downloaded and installed on a new phone, the first thing it does is ask you to set a 4 digit PIN. You then use either the app or the web account to enter card details and a host of other information to verify yourself as the owner of the card. Once the setup is done, you’re good to go.
This is a guest post by Roy Fernandez of Acquiweb, a site that offers savings and current information on cable and internet services. If you find above post on “Google Wallet App Review” interesting and useful, please share this post with your friends using the share tools on the left hand side of the browser or the ones under this post. Please if you haven’t liked our Facebook page simply click on the “Like” button on the right hand side of the browser. You can also follow us on Twitter right under the Facebook page. I hope you read my blog post on “TtTorrent Lite: Torrent App for Android“.
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