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Friday, 2 November 2012

Google Wallet Card coming soon for in-store purchases and withdrawals

Online and mobile payment services like Google Wallet and Apple Passbook are innovating the payments space with features like tap-to-pay and loyalty programs. Google is adding another dimension to its mobile payment system, which might at first look like a step back, but is actually an innovative way to manage your mobile wallet.
Google is aware that not all establishments accept tap-to-pay, and that NFC is not always necessarily the most convenient means to pay. As such, Google is introducing a physical card for accessing your Google Wallet account. A Google Wallet user tipped Android Police that he was able to sign up for a Google Wallet Card. Here are some interesting points:
  • You can swipe the Google Wallet card with any store that accepts major credit cards.
  • No need to bring all your credit cards when you shop. You can switch funding sources through the Google Wallet app, so that the system will charge the card you specify.
  • Get instant notifications of payments. This is useful for security purposes.
  • If you lose your wallet or card, then you will only need to cancel a single card, not multiple ones.

Google Wallet users can order the card through the Wallet app and have it delivered straight to one’s home address, as the tipster has shared.
But what’s even more interesting is that the Google Wallet Card will also give users the ability to deposit funds into one’s account or withdraw using an ATM machine. The service will also offer person-to-person money transfers, which could pose a serious challenge to online payment systems like PayPal.
Another thing, because Google Wallet Card will not necessarily require NFC, this means users will no longer require carrier approval before their handsets can support NFC payments. As such, Google Wallet Card may also work with multiple platforms and not just Android. This might likewise pose a serious challenge to the ISIS payment system that carriers are developing among themselves.
With a physical card, Google is set to dominate in both online and offline payments. Let’s see what competitors will come up with to challenge this latest development.



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