Google – the search engine giant has many technological marvels to its credit. It has already changed the mobile sphere by proving its authority on Android certified smartphones. Off late, Google is making fast moves with mobile manufacturing companies. Google’s acquisition plan of Motorola Mobility is one such mega adventures which hint that Google may launch its own prototype that can be fully impregnated with Google technologies. Well, it is a long way to go! We shall find how Google is helping pay your bills through mobile.
Google Wallet is an application on your phone will enable you make payments through your mobile. Currently Google Wallet is available through Samsung Nexus S 4G offered by Sprint. The mobile is fitted with a chip which is built on NFC (Near Field Communication) technology.
If Apple is able to develop its own version of NFC, Google Wallet feature may appear in iPhone 5. Google expects that NFC technology may be extended to other mobile platforms in the coming one year. For using Google Wallet, you still need Credit Cards (physically) which are PayPass compliant that means these cards will have PayPass logo on it. Then you have to link this Credit Card with the Google’s prepaid card. Linking your Credit Card with Google Wallet is as simple as filling a form with user information. Once the service is activated on your mobile you will be able to pay bills from your mobile. Your mobile is protected with a password to perform financial transactions.
Just like credit cards and debit cards are used with card readers arranged in merchant locations, mobiles enabled for Google Wallet can be used in merchant establishments which have PayPass logo on it. Just tap your phone at the PayPass kiosk and you will be able to pay your bills by being able to read all compatible credit cards, debit cards, prepaid cards and gift cards. MasterCard claims that PayPass service is already available at hundreds of thousands of merchant locations. So, finding a retail stores that accepts payments through Google Wallet may not be a big deal. As of now, the information flows from phone to kiosk only and in future it will be extended so that your phone gets confirmation in the form of digital receipt with a transaction code and reference number.
In the first phase of implementation of Google Wallet, the service is available only through Sprint. Analysts view this Google’s exclusive relationship with Sprint with much skepticism as there might be an understanding between them to market Google Wallet to the next level. Google claims that the data transferred from mobile to kiosks goes in a secured form (encrypted format) and the data will be dealt with only Google Wallet application. It will not be shared with other applications present on the mobile. As per the recent survey, consumers aged above 50 were not in favor of using Google Wallet service. It is also known that 61% of iPhone users prefer Google Wallet from Apple compared to 46% of Android users.
It is likely that Apple may develop its own NFC technology to equip their users with Google Wallet service by effectively integrating with the Google’s payment infrastructure.