Google Wallet is one of the rivaling systems for mobile payments, which not only facilitates online payments, like PayPal, but additionally deals performed using one's smartphone. Formerly compatible with only MasterCard, Google Wallet has been modified to use all credit and debit cards. Resource for this article:bad credit loan no payday loan.
Change for Google Wallet
Apple, Google and Microsoft seem to be battling for the opportunity to rule the planet with their electronics. That is why they are anticipated to fight a lot over offering the product that gets rid of plastic cards and money forever in place of a smartphone. There are people waiting for that day to happen.
Google Wallet is one of the businesses that have mobile payment products that work well right now. It used to only offer the option to CitiBank debit and MasterCards, according to ArsTechnica, but is has changed its system to work with anything. The mobile payment reader just reads the data on a smartphone and connects it to a bank or credit account. Then, the appropriate amount is taken out. It is a really simple system, and there are only a few out that work right now.
Really good for future of mobile payments
Almost every debit card will be covered with Google Wallet if you want to use it as long as it is Visa, MasterCard, American Express or Discover, according to TechCrunch.
The primary focus of this change is for mobile Google Wallet users, who at the moment are few. Google Wallet is only supported on 8 devices, almost all of which are the Samsung Nexus line. In fact, according to Google's list of supported devices, half are Samsung. The remaining four are the LG Viper, LG Optimus Elite, the HTC EVO 4G LTE and the Asus Nexus 7 tablet. Of those devices, five are only accessible through Sprint. The LG Optimus Elite is available through Sprint and Virgin Mobile.
New security attributes too
Google really wanted to keep the personal information save, so it added some safety benefits. A person does not have to store any financial information on their phone. In fact, all account data, after entered in, is stored on Google’s secure servers instead of in the smartphone memory. This means the data will be much more protected and will be harder to hack.
Even those people who have a phone that can use Google Wallet may not be able to use it very often. First they have to find a retailer who has a terminal to read the information. There are not a ton of retailers with this right now, which makes it really hard.
Sources
ArsTechnica
TechCrunch
Google
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