Tuesday, November 6, 2012

Google Wallet's New Look

Google has created many different applications that take technology to a whole new level.  For example, Google Wallet uses NFC technology to make it possible for people to use their smartphone as a personal wallet.  No longer will people have to carry 10 different credit and rewards cards around with them.  Instead, they can swipe their smartphone and instantly purchase items.  But Google Wallet is not getting the reception Google thought it would receive.  Since its release, the number of transactions done using the application has increased, but slowly.  Google expects that it will be years before mobile payment becomes the new norm.  The goal of mobile payment is to eliminate check out lines, but right now mobile payment does not seem to make life easier for either the consumer or the merchant.   Companies are working to implement this technology to make it useful for both parties in the future. 

Because the mobile carriers and stores have been slow to adopt this NFC technology, Google seeks to help its application along by issuing one NFC plastic card that serve as this Google Wallet.   Not only will this be one card that stores all personal information securely, it will also hold information for all your cards on one piece of plastic.  And the best part about this is that it can be used wherever cards can be swiped.  With this technology, service is expected to be quicker because their will be no more fumbling through a wallet for the right cards.  Also, people will be able to stay more organized with all cards in one location at their fingertips. 

I have a smartphone app that holds my rewards card numbers and barcodes.  But at this time, I do not trust the app with my credit card number or personal information.  Also, I have tried to use the app several times, but not all stores can scan my phone as if it were a card, defeating the purpose of the app entirely.  Google is trying to eliminate these fears and inconsistencies by making their application pin secured and operational only when the app runs, reducing the chance of theft and fraud.

Even though customers do not have to carry around a physical wallet if they use Google Wallet, they must make sure that they have their smartphone on them and that their phone is charged.  People will be so much more reliant on their phone if it becomes the primary means for making transactions.  

Regardless of whether or not this technology is welcomed by all people, I believe NFC will be the new way to do transactions.  The world is moving in this direction and people are looking for the technology that will make them as efficient as possible.  I do not know if NFC as a wallet will be much more efficient, but this is a step in a new direction that will probably lead to bigger and better uses of the technology for even more efficient purposes.






  1. First of all I think that this is such a cool idea! But, as soon as I started reading this, the thing that frightened me the most would be safety and the potential of hackers. The fact the all of my information would be on a cell phone providers server would hold me back from using this. Although these companies would enforce the safety of our personal information, I think it will take time until people begin to have more trust in people and technology. I am not one to talk because we online shopping is probably my favorite pass time where I find myself putting credit card information to multiple different companies. To me though, there is something about all of my financial information in one place on my phone that makes me not trust this application. As you mention previously, this will put an even more dependency on cell phones than there already is. What if you were lost and your cell phone died and you had no way of getting anywhere? Because of your payment methods were on your dead phone you would not be able to get on a bus or get a taxi. That would stink! I do not think that this app would eliminate the actual use of plastic cards just because of the risks of your phone dying, breaking etc. Therefore, because this would not eliminate the use of wallets and carrying around plastic cards I do not think that this will be successful in the near future. Also, the ATM machines would have to develop a way to be compatible with the app, which would take a long time until that came into use. This again is showing how the app does not exclude the use and traveling with cards.
    The safety aspect of which I mentioned earlier is one that is similar to the reason why we do not vote online. There is a risk that people could swing the vote one way or another that people are not willing to take. In this same way that people would be able to access the data within these servers and may lead to serious crimes. People would be able to sell your data to others, which I am sure most people are not comfortable with.
    Our generation is moving towards a world like this, one that is dependent on technology. Although I do see the convenience of this app, I do not think that the pros out way the cons, but this doesn’t mean in the far future it wont. Once Google manages to get the security and safety up and more phones and servers to use this “Google Wallet” I believe that it could have potential to be revolutionary.

  2. I think that Google Wallet takes shopping convenience to a whole other level. Since most people today don’t leave home without their phone, there is no excuse to forgo a purchase because of a forgotten wallet. But until most mobile carriers and stores implement this technology, Google Wallet will not be successful. I don’t think that the NFC card that they are issuing is practical at all because it is still essentially a credit card and customers can still lose or forget it. The whole purpose of the technology is to allow customers to forget about their credit cards and simply use what they always have with them-their mobile phone.

    According to MSN money, Visa and Vodafone are upcoming Google Wallet competitors. AT&T, Verizon, and T-Mobile are partnering up with Chase, Barclaycard, and Capital One as another possible competitor. Google Wallet is only limited to Sprint Android phones for Citi Mastercard customers. With all these new carriers and credit card companies getting involved in the field, the competition has the potential to drive the success of the mobile wallet. Until all carriers and credit card companies get involved to include their entire customer bases, I don’t believe that the mobile wallet will be successful.

    Source: http://money.msn.com/investment-advice/article.aspx?post=7fe21393-e7cb-425d-8da4-e057e3703147

  3. Colleen, this is a great post regarding a very interesting advance in technology. After reading your article and viewing the video, I am torn as to whether I believe that the Google wallet is a good idea.

    Let’s start with why I think the Google wallet is promising. The one thing this technology does provide is convenience. I know this does not pertain to me as much, but I know that it would interest someone like my Mom. My Mom is someone who loves to shop and it seems like she has a billion different rewards cards that are all attached to a key ring. The great thing about all these cards is that it saves her money, but when it comes time to use it at the register, it takes forever to go through the seemingly endless stash of cards. Knowing this, if the Google wallet provides the ability to have all of these reward cards on your phone, I am confident that not only my Mom, but several other shoppers and customers out there will be interested as well. This should also prove to be helpful when it comes to making payments. Instead of having to carry numerous credit cards in a wallet or purse, they will all be accessible through the application on your phone.

    But to me, the convenience of having all this information, especially your payment options, accessible through your phone could also prove to be this technology’s biggest downfall. It would only take one hacker out there to figure out a way to steal this information or break into your phone that would probably scare people away from using this technology. The fact that we live in a world that has become so reliant on their phones for everything—now as a form of payment—is frightening to me. Sure, you might not have to carry a wallet around with this new technology, but imagine how much worse it would feel losing your phone now? We hold so much information on these smartphones that when we lose it or misplace it these days, it is like we have lost a part of our lives.

    Another problem I see with the Google wallet is that, in my opinion, it is not very well advertised. The reason I say this is because when I look at a technology company like Apple, whether you want to know about them or not, everybody is aware that they have a new phone, computer, iPod, etc. coming out. This is due to very successful marketing and publicity that their products get. But with the Google wallet, although I think many will be interested, I had not heard of it until I read this article. In addition to this, I don’t every see any commercials or ads regarding it either. You mentioned that the growth they were experiencing was slow, and the lack of exposure and marketing might have a lot to do with this.

    Overall, I believe that the Google wallet is promising. As I stated above, I can definitely see how customers could benefit from using it in their daily lives. It just worries me that we are adding another dimension to our smartphones in a world where they already contain so much of our personal information. Despite this, if they are looking to increase sales, I would definitely recommend finding better ways to market their product. In doing this, I believe that they will attract more customers and experience a more significant growth.

  4. While Google Wallets seems like a great innovation, I can see why Google has not received a significant response to the new technology. My main concern was relying on one device for all payments. One great point made was how you have to make sure your phone is charged at all times and become more dependent on our phone. I believe there are too many possible complications that come with having all payment methods on the phone, that it may not all be worth it.

    Not only may having an uncharged phone be a problem, but also forgetting your phone at home can become a hassle if you are trying to make a payment. If your phone decides to malfunction at the register or the app decides not to work, we are creating more stress to a simple task. Technology is great, but the more creative and in-depth we get with all these innovations, the more affected we are by glitches tampering our routines. Another thought that concerned me was that Google would have to have every possible card payment available on its app to fully “get rid” of the wallet. If I wanted to no longer carry my wallet, I would find it annoying if I had to carry around a card that Google had yet to add to their app.

    The YouTube video brought up some more points that I did not think of. Goggle wallet currently requires the Google Nexus phone. Until Google can have this innovation on most phones more quickly, they most likely will not see a growth in the use of the virtual wallet, because most of us with smart phones typically have the iPhone.

    I went on Google to see how safe the app was. I was happy with the idea that if your phone ever gets lost or stolen you can remotely disable your account online without canceling your individual phone. I also found that that Google pays the merchant, and then processes the transaction with your selected card payment, so neither the merchant nor Android operating system ever gets your real payment card information. Google also says our information is “safely encrypted on secure servers in a secure location,” but where is this location and how can I trust how secure my information is? There is much to consider.

    If we get rid of wallets completely, does this mean we also stop carrying cash? Some people may prefer to make cash payment and they wont be able to do this on their phone. If someone wants to make a small payment at a store or leave a waitress a cash tip, we are still going to need our wallet to carry cash and forms of identification. I understand that the point is to not have to carry so many cards, but we’re always going to need a wallet and people may continue to carry their cards just in case the app doesn’t work and they need to pay cash or use their actual card.

    No matter how useful this app may become, I feel the possible glitches and drawbacks will have a significant impact on its success.