19 Oct Would You Use an Electronic Wallet?
The introduction of the Google Wallet concept may slowly become a revolutionary trend as more merchants participate in this inevitable push into the future. However, many questions are likely to arise regarding the consumer’s comfort level with this technology.
Google Wallet is an Android app that makes your phone your wallet. It stores virtual versions of your existing plastic credit cards on your phone. Simply tap your phone to pay and redeem offers using near field communication, or NFC.
The Google Wallet SingleTap experience is also being deployed at select stores. This allows you to not only pay but also redeem coupons and/or earn rewards points with a single tap of your phone.
One word – security.
Although the idea seems perfect for many – from the business executive to the college student – I need to gain a better understanding of the security of the phone. What happens if you misplace your phone? Although it is just as simple to lose a credit card, the concept is still new and uneasy.
Do you see the Google Wallet concept being easily adopted?