Google stiffen its clutch on smartphone wallets

Feb 21, 2012, by admin

Google has guaranteed users of its smartphone wallets that the mobile-age technology frustrates steals better than old-school cash or credit cards.

“Mobile payments are going to turn into more common in the coming years, and we will learn much more as we continue to develop Google Wallet,” Google payments vice president Osama Bedier said in a blog post.

“In the meantime, you can be convinced that the digital wallet you take offers resistances that plastic and leather simply don’t.”

A Google Wallet attribute that lets people load prepaid card information in smartphones for expending was re-activated this week after being shut off for a few days to fix possible security susceptibility.

“While we’re not conscious of any cruelty of prepaid cards or the Wallet PIN resulting from these recent reports, we took this step as a safety measure to make sure the security of our Wallet customers,” Bedier said.

The action from Google came after a Zvelo Labs researcher revealed software that quickly figures out a Wallet personal classification number (PIN), offered the crook has the smartphone.

The researcher dismissed the threat of hackers picking Google Wallets remotely, clarifying that physical admission is required to get precedence access to controls in a process called “rooting.”

Security specialists advise Google Wallet to allow security attributes such as full-disk encryption and screen locks.

Google Wallet is available only on Nexus S and Galaxy Nexus smartphones. Google plans to enlarge the feature to more Android phones.

Google Wallet employs a near field communication chip embedded in a phone to permit a user to “tap-and-pay” for purchases at a checkout register equipped with the PayPass system from CitiMasterCard.

Customers can also use a Google Prepaid card to pay for purchases, topping up the Google card with any payment card, and take advantage of Google provides, the Mountain View, California-based company’s online discount coupon program.

In adding up to allowing for mobile payments, Google Wallet permits consumers to pay using gift cards and to redeem promotions such as discounts or coupons.