When Google Wallet rolled out around one year ago, it had a lot of potential, but some serious drawbacks. Keeping your digital funds on the cloud and having them accessible by mobile devices is a pretty desirable way to have any sort of funds in general, but upon launch, Google Wallet did not accept most major credit cards and was a localized app not connected to the cloud, thus severely hampering its usefulness. Now, Google Wallet is both connected to the cloud, and accepts all major credit cards.
When it first rolled out, lack of cloud access notwithstanding, people could only connect a Citibank MasterCard or one of those pre-paid cards. Now, Google Wallet accepts Visa, MasterCard, American Express, and Discover. Some of the new cloud features are pretty useful, such as Google Wallet storing most of the secure information on the cloud, rather than on the local app, leaving your sensitive credit card information on Google’s more-secure-than-your-phone servers. Also, if your phone is stolen or lost, you can remotely remove Google Wallet access from your phone via the web.
Right now, Google Wallet isn’t exactly accepted at all stores, but if Google has their way, that will change sometime in the future. There’s something to say about cloud wallets, but it unfortunately isn’t that much — its usefulness is relegated to how widely accepted and convenient the payment method is, and how secure the funds are. While you’re waiting for your favorite coffee shop to accept Google Wallet like you waited for it to accept Bitcoins, you can watch Google’s new introductory video over and over again. It features gummy bears bursting forth from a regular pocket-wallet, which is now what we’ll call physical wallets.
(via Google)
Relevant to your interests
- Google Wallet started out with some significant issues when it rolled out
- Paypal sued Google in response to Google Wallet
