Google has found an interesting way to allow you pay in an easier way. You just have to have an android phone with NFC activated in it. NFC is a near filed communication technique that is provided by the NFC chip. If u have NFC chip on your phone then you can use the facility of Google Wallet.
Google Wallet uses your city Master card, Credit card and the Google Card for the mode of payments which can be funded with any of your existing plastic card. Even Google has provided scheme that they will add $10 bonus for those who set up the Google Wallet within this end of the year.
Since, this is a latest technology and we are talking about the payments, people might find it uncomfortable or unsecure to use it because of security reasons. But Google says the initiation of transition will take place only if the authorized person log in to it. And all the other payment credentials are stored in a separate chip. Thus, it would be most secured payment mode.
Google Wallet is also going to support Visa, Discover and the American express in a near future. Currently, Google prepaid card is powered by Master card and the Money network. We can understand that the Google Wallet is very convenient in its own ways. Let us see how the Google Wallet works:
Google just has found a contactless mode of payment. Like your wallet, Google wallet will contain all the information about your credit card, coupons, loyalty card, tickets and much more. The transmitter is always off until you turn your screen on thus the transmitter chip will not be powered until you wish to. After that you have to enter your pin number to see which card you are carrying. You can then use the card you want to through the phone.
You have to tap your android phone on the NFC friendly card reader provided by the shop so that you do the payment. Now, only a bunch of retailers has got the update. Thus one has to deal with the thing in the present time.
The Google Wallet is most secured mode of payment and is most convenient too. None has to then swipe the card or to count the money to pay. If updates reaches to all the retailers, life will be much easier.