View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Dashboards
  2. Deals
August 2, 2012updated 04 Apr 2017 4:14pm

Google Wallet to support all cards and offer enhanced security

Google has launched an upgraded version of its e-Wallet app that supports all credit and debit cards and has enhanced security features.Google Wallet employs cloud-based technology and allows users to make purchases online or in-store using their Google accounts or mobile phones through a virtual MasterCard prepaid card. 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 Robin Dua, Google Wallets head of product management on Google Commerce blog.

By Chiara Francavilla

Google has launched an upgraded version of its e-Wallet app that supports all credit and debit cards and has enhanced security features.

Google Wallet employs cloud-based technology and allows users to make purchases online or in-store using their Google accounts or mobile phones through a virtual MasterCard prepaid card.

“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 Robin Dua, Google Wallet’s head of product management on Google Commerce blog.

The process is more straightforward for the cards supported before the upgrade, Google Prepaid Cards and Citi MasterCard cards, which are charged directly.

Google said the upgrade also improves the system security. Cards details are now stored in Google servers rather than in the phones storage areas, where only the virtual card number is kept.

Another new security feature allows the app to be remotely disabled. In case of lost phone, for example, users can visit the online platform, select the device and disable the functionality to block any transaction.

“There is no way you can do that with your leather wallet,” said Dua.

The upgrade comes after security concerns were raised by zvelo security firm engineer Joshua Rubin, who developed an app able to crack Google Wallet four-digit PIN  in February 2012.

The four-digit PIN is still presented as the main feature to prevent frauds, and  Dua suggests applying “an extra layer of protection” by setting up phones’ screen locks.

Google Wallet works on some NFC devices (currently only six phones from Sprint and Virgin Mobile, and  Nexus 7 tablets) and can be used in the 200,000 US retails that have  MasterCard PayPass technology installed.

 

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International