Google releases cloud-based Wallet
01 August, 2012
category: NFC
Google has released a cloud-based version of the Google Wallet app that supports all credit and debit cards from Visa, MasterCard, American Express and Discover.
According Google, the new app stores your payment cards on Google’s secure servers, instead of in the secure element of the mobile phone. The secure element still stores a wallet ID (virtual card number) that is used to “facilitate transactions at the point of sale,” according to Google.
To save a card to Google Wallet, the user simply enters the card number into the mobile app, online wallet or Google Play when making purchases.
“This new approach speeds up the integration process for banks so they can add their cards to the Wallet app in just a few weeks,” said Google on its Commerce Blog. “Banks that want to help their customers save cards to Google Wallet can apply here — there is no cost.”
The new version also sports a security feature that enables users to remotely disable the mobile wallet app from the Google Wallet account on the Web.
“If you lose your phone, just visit the ‘Devices’ section in the online wallet and select the phone with the mobile wallet you wish to disable,” explains Google. “When you successfully disable your wallet on a device, Google Wallet will not authorize any transactions attempted with that device. If the Google Wallet online service can establish a connection to your device, it will remotely reset your mobile wallet, clearing it of card and transaction data.”
The new Google Wallet app is now available on Google Play.
