Near-field communication (NFC) technology enables a consumer to wave their cell phone at a point-of-sale terminal to buy via the use of a "digital wallet." One of the fast-growing cases of the digital wallet is the appropriately called Google Wallet, but it pays to know a little bit about how it works before you jump in to the cashless (and cardless) retail trend.
Start with a cell phone
At the Google Wallet site, you can effortlessly set up an account linking your credit and debit cards to the account. You even get to pick a preferred card with it. Then, you just need to download the app to your cell phone and search for the digital wallet payment in stores where you can then pay through the application.
Google Wallet - A virtual MasterCard
A virtual MasterCard account number is given to any person who uses Google Wallet, and generally that is the number that is charged. Occasionally, when used offline, the preferred card is charged later instead, but usually the master number is used. You can link any card you need to your account from any card maker. When you make an online purchase, you choose the preferred card you need right then and there.
The benefits of using a virtual account number are obvious. Chief among them is preventing thieves from capturing your actual account info. As the information on connected cards is stored online instead of within the mobile phone, if the phone is lost or stolen, it's easy to deactivate Google Wallet and wipe the app remotely.
Will you ever leave home without your Google Wallet?
With any service that aspires to take the place of conventional cash-in-hand payments, there will be the question of whether you can leave the house without it. Google Wallet makes it easy to leave without having to make sure that you're carrying all of your charge cards, and that's a big part of the current trend toward a cashless society. But you'll still need your wallet for things like you driver's license, or at least until they find a way to digitize that. And not all merchants are on board with services like Google Wallet, although it's only a matter of time.
Start with a cell phone
At the Google Wallet site, you can effortlessly set up an account linking your credit and debit cards to the account. You even get to pick a preferred card with it. Then, you just need to download the app to your cell phone and search for the digital wallet payment in stores where you can then pay through the application.
Google Wallet - A virtual MasterCard
A virtual MasterCard account number is given to any person who uses Google Wallet, and generally that is the number that is charged. Occasionally, when used offline, the preferred card is charged later instead, but usually the master number is used. You can link any card you need to your account from any card maker. When you make an online purchase, you choose the preferred card you need right then and there.
The benefits of using a virtual account number are obvious. Chief among them is preventing thieves from capturing your actual account info. As the information on connected cards is stored online instead of within the mobile phone, if the phone is lost or stolen, it's easy to deactivate Google Wallet and wipe the app remotely.
Will you ever leave home without your Google Wallet?
With any service that aspires to take the place of conventional cash-in-hand payments, there will be the question of whether you can leave the house without it. Google Wallet makes it easy to leave without having to make sure that you're carrying all of your charge cards, and that's a big part of the current trend toward a cashless society. But you'll still need your wallet for things like you driver's license, or at least until they find a way to digitize that. And not all merchants are on board with services like Google Wallet, although it's only a matter of time.
No comments:
Post a Comment