Google Wallet Wants To Be Your Only Wallet
By Cornelius Nunev
Near-field communication (NFC) technology allows a consumer to wave their smartphone at a point-of-sale terminal to buy via the use of a "digital wallet." One of the fast-growing instances of the digital wallet is the properly named Google Wallet, but it pays to know just a little bit about how it really works before you jump in to the cashless (and cardless) retail revolution.
Begin
At the Google Wallet website, you can easily set up an account linking your credit and debit cards to the account. You even get to pick a preferred card with it. Then, you just need to download the app to your cell phone and search for the digital wallet payment in stores where you can then pay through the application.
Phone buys
When you use Google Wallet, an account number is given to you. Then, that account number is used to draw funds from whatever card you have the account linked to. There are some instances where the preferred card is charged later, but usually the virtual card is charged. The preferred card is always chosen when making an online payment.
The benefits of using a virtual account number are obvious. Chief among them is preventing thieves from capturing your actual account information. As the info on connected cards is stored online rather than within the mobile phone, if the phone is lost or stolen, it's easy to deactivate Google Wallet and wipe the application remotely.
Will you ever leave home without your Google Wallet?
Though you still need your wallet for things such as driver's licenses, you might be able to keep away from all credit and debit cards on your person. Instead of carrying around cash and cards, you can just take your phone with you. Use Google Wallet rather than carrying around a chunk of plastic to cover things. It will not be long before your driver's license is digitized and also you will not need other things anymore anyway.
Begin
At the Google Wallet website, you can easily set up an account linking your credit and debit cards to the account. You even get to pick a preferred card with it. Then, you just need to download the app to your cell phone and search for the digital wallet payment in stores where you can then pay through the application.
Phone buys
When you use Google Wallet, an account number is given to you. Then, that account number is used to draw funds from whatever card you have the account linked to. There are some instances where the preferred card is charged later, but usually the virtual card is charged. The preferred card is always chosen when making an online payment.
The benefits of using a virtual account number are obvious. Chief among them is preventing thieves from capturing your actual account information. As the info on connected cards is stored online rather than within the mobile phone, if the phone is lost or stolen, it's easy to deactivate Google Wallet and wipe the application remotely.
Will you ever leave home without your Google Wallet?
Though you still need your wallet for things such as driver's licenses, you might be able to keep away from all credit and debit cards on your person. Instead of carrying around cash and cards, you can just take your phone with you. Use Google Wallet rather than carrying around a chunk of plastic to cover things. It will not be long before your driver's license is digitized and also you will not need other things anymore anyway.