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.