Google wallet is an application specifically designed for android users. It stores information on debit cards, credit cards, coupons, offers, reward cards and loyalty cards. This enables the user to transact online, buy in stores and send money. In a nutshell, your smartphone works like a wallet where you store all cards information and update the necessary changes when the cards have been altered. Your personal details are secured using your personal pin used for transaction and lock screen of the phone. The application is so secure such that you can easily disable your mobile wallet when you lose your phone. Payment details is transmitted through near field communication (NFC) and thereafter, the transaction records will be displayed on the phone.
Advantages of Google wallet
The most beneficial aspect of the Google wallet is that it saves time and money. It is also a flexible means of transaction since you do not have to carry all your financial documents with you. It also reduces the risk of losing money through impulse buying or theft since all your transactions are done online. There is also notification about sales and purchases.
The only demerit of the Google wallet is that it only supports android tablets in the USA only. There is also the issue of security. Google wallet is susceptible to hackers who may tamper with users’ finances.
How to activate credit card
Install the Google wallet application in a NFC compatible android phone. Enter the account number, card details and other personal information required. This information is then verified by Google with the credit card company. You can then activate the card via email.
Transacting with Google wallet
Open the Google wallet application and activate the credit card of your choice. The phone should be placed at most two inches from the receiver- which is the equipment to read NFC chip in your phone, for the transaction to occur successfully.
Near field communication
Mobile wallet is possible because of Near Field Communication technology. NFC works like bar codes in stores. Phones with NFC chips are placed in contact with the receiver devices and the transaction takes place.
In case your phone does not support Google wallet application or it does not have an NFC chip, then you can create a Google wallet account online. The following forms support the Google wallet application:
Android Nexus S smart phone, Samsung galaxy s 111, Samsung Axion, LG viper 4G LTE and LG Optimus Elite.
The reason why Google wallet application has not been fully adopted is because most smart phones do not have an inbuilt NFC chips and most commercial stores have not invested in receiver equipment.
Despite the application not being very widespread, it is worth noting that it has captured the minds of their competitors Apple who have made it their initiative to incorporate the NFC chip in their gadgets. Furthermore, Google is trying to make it possible for people to use Google wallets application by partnering with mobile handset companies to provide this service.