Google Opens Users' Wallets with a New Smartphone App

The Internet Safety Project Newswire's picture
The Internet giant, Google, strikes again as it seeks to sway users to throw away their wallets and use the new "Google Wallet" app they launched today. This new application allows users to use their mobile phone to pay for transactions rather than traditional credit cards. Users are able to pull out their phone, enter a 4-digit pin code, and then swipe their smart phone against the shop's pay point and go on with their day. The excitement over this new innovation is catching; however, there are still quite a few limitations. Currently, the Google Wallet app is available only on the Nexus S 4G Android phone. Additionally , the app is not compatible with all pay points; because the technology is advanced, it requires updated credentials at pay points that are not currently located at all pay stations. Therefore, for the time being, Google Wallet users are still quite limited in their use. However, a great deal of fanfare and consumer excitement ensures that the Google Wallet will grow in popularity and usability. As users consider making the switch from credit cards to applications consider a few security concerns: anyone who has their phone stolen is not only at risk for losing information, but now money - especially if they opt to use some of the most common pin codes, such as 0000 or 1234. Additionally, as users depend on their smartphones for monetary transactions, they also depend on lasting battery power. Therefore, users should be cautious when exploring this innovative technology introduced by Google.