Google took it to the next level yesterday with their launch of Google Wallet. Using Field Communications, Google Wallet will allow users of similarly equipped mobile devices to simply swipe their phones across compatible card readers at checkout for quick and easy payments. I’m sure there will be numerous stories of breached security by hackers, but the implementation of this technology is a major step for Google. According to Hypebeast;
The technology is initially being backed by credit card merchants MasterCard and Citibank, while it is promising the support of other major credit card companies such as American Express, Visa, and Discover in the near future. Google has also created the Google Prepaid MasterCard, a workaround for users who may not have a Citibank Mastercard. Sprint is the only initial carrier partner and at this point, only users of the Nexus S 4G have the ability to test out Google Wallet. It is likely that forthcoming Android-based devices will be adopted if they have NFC technology built-in. While no timeframe has been laid out for expansion beyond its initial launch partners, Google’s Vice President of Payments, Osama Bedier stated, “our goal is to make it possible for you to add all of your payment cards to Google Wallet, so you can say goodbye to even the biggest traditional wallets.”
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