The multifunctional wallet- Google Wallet

A phone that is fitting into a wallet? That was yesterday… Nowadays, your phone is your wallet.

Ok. Of course the so called PaperPhone (I wrote about it 2 weeks ago) that could lie next to your credit cards in your wallet is not old-fashioned. But a few days ago I got to know Google’s newest invention- The Google Wallet.

As you can read at The Official  Google Blog

Google Wallet is a key part of our ongoing effort to improve shopping for both businesses and consumers. It’s aimed at making it easier for you to pay for and save on the goods you want, while giving merchants more ways to offer coupons and loyalty programs to customers, as well as bridging the

gap between online and offline commerce.

But how exactly does this technology work? How can a smartphone owner actually use this new invention?

The Vision

With the Google Wallet  the user should be able to pay for products and services with the smartphone instead of regular credit cards. According to Google it is an app that

will make your phone your wallet. You’ll be able to tap, pay and save using your phone and near field communication (NFC). 

You’ll be able to store your credit cards, offers, loyalty cards and gift cards, but without the bulk.

When you tap to pay, your phone will also automatically redeem offers and earn loyalty points for you. Someday, even things like boarding passes, tickets, ID and keys could be stored in Google Wallet. 

Get started

At first the user need to set up the service by combining the Google Wallets with a Google account. The next step is to create a PIN code and afterwards the user has to add credit cards to the account. The info gets transmitted to a security company called First Data, which will approve the cards for use. If this is done,  shoppers need only “tap and go” with their phones to make purchases.

Google works with several merchants like Subway, RadioShack, Walgreens and many more. These companies are offering loyalty coupons to Google Wallet Users. To find out where you can use it check out Google’s interactive map.

How it works

When Google Wallet launches, it will support these cards:

  • Citi MasterCard
  • the Google Prepaid Card
  • gift cards at participating merchants

If you already have a Citi MasterCard you only have to open your Google Wallet and enter your account information. Afterwards Citi has to verify these information- if everything is correct your credit card credentials are stored safety to a microchip on your phone. Now  you are able to tap your phone to pay.

If you don’t have a Citi MasterCard- no problem! The Google Prepaid Card is a virtual card that you can charge with any of your credit cards ( –> no Citi Mastercard required).

The third option is the Gift Card.

Google Wallet can store gift cards for participating merchants. When you tap to pay at a merchant, Google Wallet transmits your gift card information to the terminal. 

Security Matters

Of course there is the question whether this new way of payment is secure and safe.

Google Wallet is designed and engineered to enable safe, secure payments. In fact, Google Wallet’s security features go beyond what’s possible with traditional wallets and cards.

The first thing that is done for security is a PIN that you have to enter before making a purchase. This PIN should prevent unauthorized access via Google Wallet.

Moreover the security technology

provide many layers of security. 

And if the phone is lost or stolen the PIN and the security technology should pretend your payment card information but the user should still call the issuing bank to cancel the card.

Sounds easy, right?

But you always have to take into consideration that there are always weaknesses concerning security. No one can really ensure that your data is safe. Make up your own mind if you prefer your familiar wallet or the new technology!

For further information also check the Google Wallet Product Launch:


About Lisa

20-years-old blogging newbe, living in fantastic Berlin and studying International Business Management. View all posts by Lisa

2 responses to “The multifunctional wallet- Google Wallet

  • changyong

    Yes since the mobile phone became part of our life (just like internet)

    It would be a great idea, put all of the credit and visa cards in the simcard so that we do not need to bring all of them in our wallet.

    The idea is getting real. Cool.

  • Julia J.

    I looked through the blog posts on your groups’ blog and the heading of your blog post made me want to read further. I was wondering what a Google Wallet is. I never heard about this wallet and thought “My gosh, is Google now buying and owning everything??” When starting to read your article when you said that is might be possible that we do our transactions via cellphone in the near future was reminded of Japan, where it is possible for some time already to pay the bill with the cellphone.
    You structured the article very well by always providing big heading for every sub-part. The video was a good attachment to the blogpost!!
    When you ask me the question about cellphone wallet or traditional wallet I would go for traditional one. The reason is simply because I am not a big fan of all this new technology. It fascinated me on the one hand but on the other hand I have the feeling that we make ourselves to dependent on them.
    Thanks for the post.

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