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Your phone is now your wallet... According to Google

Tuesday, 20 September 2011

This week Google has launched it's latest venture 'Google Wallet'. The app that makes your phone your wallet.

Checkout the promo video giving further details on the launch and the Google Wallet service:

Google has been testing this product extensively since May, but currently only select users will be able to use Google Wallet to make payments. At the moment Google’s product has only one compatible device (The Nexus S 45) and one credit card that connects with the app (Citi MasterCard).

So if you're not running on the above at the moment, then, Google has said that they would be making a Google prepaid card available for use with Google Wallet. Users can fill this card by using any other standard credit card. According to the Google Blog post announcing the launch, “Visa, Discover and American Express have made available their NFC specifications that could enable their cards to be added to future versions of Google Wallet.”

I have concerns for security, battery outage and privacy / hacking issues, but hey there's still credit card fraud and tricksters now, so whether you pay by phone or payment card there are still risks either way.

Let's see how well the launch goes.

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