The Google Wallet
Contactless payment system, or often called “touch and go” or “wave and pay” is a technology which has been quite familiar for people, especially those whose payment needs are high but they have such limited time to mobile. These people often use SMS payments involving passwords, direct billing by mobile operators, and mobile web payments via WAP sites. Today, as the leading company looking to bring mobile payment in to the mainstream, Google has just announced the launch of Google Wallet on last May. This brand new technology in payment system is given jargon as “a mobile app that will make your phone your wallet.”
The service of Google Wallet is initially available only in the United States on one smartphone model, which is Nexus S 4G, on a single carrier, and only for customers of a single bank, which is Citibank. Google has also given some thought to allaying the fear of exposing personal financial information of the contactless payment systems users by launching this product. Google Wallet stores personal financial data on a dedicated chip separate from the phone’s main processor and it is also protected with additional layers of security, and a PIN is also required to complete any purchasing transaction.
Google Wallet is launched by its companion, namely Google Offers. Similar to Groupon and other digital coupon services, this service will deliver regular deals based on the location and the personal preferences of the users. When used jointly with Google Wallet, deals and coupons can be saved in a smartphone, synced and updated, and applied automatically at the time of purchase. What a technology!