Google Wallet – Tap and Pay Using Android Phone

google-wallet_logoGoogle Wallet is a free Android app that makes your phone your wallet. It stores virtual versions of your existing plastic cards on your phone, along with your coupons, and eventually, loyalty and gift cards. Simply tap your phone to pay and redeem offers using near field communication, or NFC. Google Wallet will be an open mobile wallet holding all the cards and coupons you keep in your leather wallet today.
google wallet

Payments, offers, loyalty, and so much more

Google Wallet has been designed for an open commerce ecosystem. It will eventually hold many if not all of the cards you keep in your leather wallet today. And because Google Wallet is a mobile app, it will be able to do more than a regular wallet ever could, like storing thousands of payment cards and Google Offers but without the bulk. Eventually your loyalty cards, gift cards, receipts, boarding passes, tickets, even your keys will be seamlessly synced to your Google Wallet. And every offer and loyalty point will be redeemed automatically with a single tap via NFC.

The future of commerce starts

Google Wallet is coming soon. When it launches, you’ll be able to use Citi MasterCard cards and the Google Prepaid Card with Google Wallet. You’ll be able to tap to pay at hundreds of thousands of merchants. At launch, Google Wallet will be compatible with Nexus S 4G by Google, available on Sprint. Over time, Google plans on expanding support to more phones.

About NFC (Near Field Communication)

NFC is a wireless technology that enables data transmission between two objects when they are brought within a few inches of each other. Smartphones enabled with NFC technology can exchange data with other NFC enabled devices or read information from smart tags embedded in posters, stickers, and other products.

How it Works?

Payments

[advt]Give your smartphone some credit: Tap your phone to pay with the virtual payment cards stored in your Google Wallet.

When Google Wallet launches, it will support these cards:

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

google-walley-payment

Tap your phone on the reader. Your phone sends payment, and, at some merchants, offers and loyalty information.

  • Citi MasterCard: It’s easy to set up a Citi MasterCard with Google Wallet. If you already have a card, open Google Wallet and enter your account information. After Citi verifies it, your credit card credentials are stored to a secure microchip on your phone. You can then tap your phone to pay.
  • Google Prepaid Card: The Google Prepaid Card is a virtual card that you can fund with any of your existing credit cards — no Citi MasterCard required. After you activate the Google Prepaid Card in Google Wallet, you’ll get $10 in your account. Your first $10 spent with Google Wallet is on Google. You can then top up the card with additional funds from any of your plastic cards. You’ll pay no fees to top up your Google Prepaid Card at least until the end of 2011. Since the Google Prepaid Card is purely virtual, you won’t get an actual card in the mail. The Google Prepaid Card is powered by MasterCard and Money Network.
  • Gift cards: 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.

Offers & Loyalty

Google Offers are deals on products and services at local or online businesses. Whenever you buy or save a Google Offer, it automatically syncs to your Google Wallet so your offers are always with you. Google Wallet can also store loyalty cards for participating merchants.

  • Redeeming Google Offers

At most stores, simply show your offer to the cashier at check out. The cashier will either scan the offer’s barcode or manually type it in. At participating Google SingleTap merchants, you can pay and redeem your offer in a single tap via NFC.

  • Finding Google Offers

Google Offers are available in different Google products, such as Google Search, Maps, Latitude, and Shopper. You can also learn more about the Google Offer of the Day at www.google.com/offers.

  • Loyalty cards

Google Wallet can store your loyalty cards for participating SingleTap merchants. When you tap to pay at a SingleTap merchant, Google Wallet transmits your loyalty account information to the terminal so that you earn rewards for your purchase.

Google were working with merchants to help them support offer redemption and loyalty via near field communication.

Security

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.

A locked wallet is a safer wallet

Google Wallet requires you to set up a Google Wallet PIN that must be entered before making a purchase. This PIN prevents unauthorized access and payments via Google Wallet. Android phones also feature a separate lock screen.

Secure technology

Google Wallet and MasterCard PayPass provide many layers of security.

Google Wallet stores your encrypted payment card credentials on a computer chip on your phone called the Secure Element. Think of the Secure Element as a separate computer, capable of running programs and storing data. The Secure Element is separate from your Android phone’s memory. The chip is designed to only allow trusted programs on the Secure Element itself to access the payment credentials stored therein.

The secure encryption technology of MasterCard PayPass protects your payment card credentials as they are transferred from the phone to the contactless reader.

What to do if your phone is lost or stolen

Even though the Google Wallet PIN and Secure Element protect your payment card information, you should still call your issuing banks to cancel your cards.

Kinds of companies can partner with Google for Google Wallet

Google continues to partner with many kinds of companies for Google Wallet, including: 

  • Issuing banks
  • Payment networks
  • Point of sale systems
  • Semiconductor companies
  • Mobile handset manufacturers
  • Mobile operators
  • Merchants

Read Google Wallet FAQ

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