Google Wallet – Is it safe?

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The future of e-payment is here. Introducing Google Wallet, a Google invention that can turn your phone into your wallet.

Partnered with Citi MasterCard and Google Prepaid cards, Google Inc. has unveiled its latest for Sprint Nexus S4G. The search engine giant has confirmed that American Express, Visa, and Discover will soon start working on the new app.

Debuted in May 2011, Google Wallet has been tested with a few selected retailers, so far. You need to have a Google account to access of Google Wallet. The app will need a PIN number to work, which you will receive once you register with Google.

“Tap, pay, and save”! Yes, it is that easy. The user needs to tap the phone against a compatible card reader, and the transaction will be made without any swiping.

But is it safe?

The thought of credit card's association with mobile phone might scare many. But Google Wallet is a much more secure option than pocket wallets. How? Read on.

If the phone’s display screen is turned off, the transmitter chip can’t be powered on and therefore it can’t store any data. That would certainly resist any web-miscreant from scanning your phone. So, if you are not in need of Google Wallet at that moment, it is advisable to turn the screen off. And if the phone remains unused for more than 30 minutes, you would need to submit the PIN number in order to re-activate the mobile device. Without the PIN, none can use your card or see the contents it holds.

With the launch of Google Wallet, Google has found itself in a new controversy, when Paypal filed a lawsuit against two of their former executives, who are currently working with Google.inc. According to Paypal, Osama Bedier, one of the employees, shared their trade secrets with Google.

However, Google says, “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,” in their blog.

The Google Wallet is offering a $10 bonus to all the adopters, who will opt for this app by the end of this year. Surely, Google knows how to tickle the users.

So, have you signed up for Google Wallet yet?

 

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