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Google Wallet - Everything You Need to Know

Posted by Sher Singh | | Category: |

Google Wallet - Everything You Need to Know
Google Wallet
Google has announced its new service Google Wallet and Google Offers.With this new service Google is promising to make your cellphone your wallet.First question that came in mind is what exactly Google Wallet is ? Google Wallet is an Android app and with this app you can pay with your credit or debit card using your phone.

Actually Google Wallet doesn't meant for making payment only.Actually it is a bundle of packages tied together.Google Wallet is a coupon collector and loyalty card system.With this merchants can offer you to new deals and pay your bills.Google Wallet will allow you to pay things as you do now with credit card.

How Google Wallet Works
Google Wallet is based on NFC (Near Field Communications) and PayPass system.So you'll be able to use it anywhere that's hooked up with PayPass.Google says Google Wallet is "more secure than your wallet," because your credit card is never fully displayed, it requires a PIN to access, and the card data is encrypted.
When you add your credit or debit card to your Google Wallet than first it is verified by the bank that you are authorized user.There is 100$ limit until everything is activated via SMS or email.
Google Wallet works on Android phone with an NFC chip.For non-NFC Android phones, Google mentioned using an NFC sticker.For now Google Wallet will not work with non-android phones like iPhone or window phone.

Google Offers
Google Offers, is a service informs you about new deals.You need to subscribe to Google offers and you will get a new deal in your inbox everyday.You can easily redeem those offers with Google Wallet.You can save coupons to your wallet, whether it's a Google Offer you see on the internet or on any NFC enabled shop's poster.

Google is gonna make money off of this whole enterprise, "like Groupon," since they're not making money off of payments themselves-they want to build the ecosystem and get people using Offers, where they pull in ad revenue.

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