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.
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“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.
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By GlobalData“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.
