Google Pulls E-Wallet Out of Pocket
Google executives showed off the e-wallets sophisticated ability of making purchases and downloading e-coupons with a Google Nexus S Android smartphone. They also referenced the goal of storing a citizens drivers license within the e-wallet.
While the thought of storing your most private information may appear to leave you nonsensically vulnerable in todays world of hacking, Google representatives say Google Wallet is secure. They say the NFC chip which transmits the data is only enabled when a consumer wants to actually use the e-wallet. An attempt to forbid hackers from “sniffing” the card and theft of information.
Google’s partners in the NFC project include MasterCard, Macy’s, Subway, American Eagle, Citibank and Sprint.
Initially Google Wallet will trial in New York and San Francisco.
Google called on other banks as well as mobile phone carriers and retailers to join the squad in helping to turn your traditional, beat up wallet into a thing of the past.