What is a Google wallet account?

Have you heard of Google wallet account? It is a payment processor system that will make it easy to pay for all of your purchases. Giant Google has set up this payment system you can use on and off line. Simply 'tap' your phone to any terminal with the Google wallet logo and you're all set.

How Google wallet works

Google wallet is the new way to pay and aims to eliminate carrying fat wallets stacked with wads of credit cards. It uses Near Field Communication (NF) which is a wireless connection to send payment details to merchants. Simply 'tap' your mobile devices where there is a PayPass reader in-store. It’s also good for use in online stores where Google wallet is accepted. The list of stores is growing everyday where you can pay with Google wallet.

However, there are certain requirements that must be met in order to use the virtual wallet. You must have Android supported phones and devices such as Samsung Galaxy 3, LG Optimus, Galaxy Nexus, and HTC EVO. Hopefully, more devices will be compatible in the future. Download the app to your phone and open a Google wallet account allowing phone users to pay with their virtual wallet. But wait, you have also to make sure, too that your credit card companies participate in the payment system. At the moment, you can enter card details for companies like Visa, Mastercard, American Express, and Discover.

When you set up a Google wallet account, the app creates a virtual credit card online, meaning that your details are never revealed to the merchants and just stored online. You can also store coupons and rewards programmes. Your wallet will also scan for coupons and discounts you might have associated with your credit cards when paying for goods or services. Of course, shopping patterns and behaviour are analysed so that merchants can send you attractive deals.

Latest news on Google wallet

Google wallet is available in the US only. We can’t wait when it rolls out in the UK to open our Google wallet account. Earlier this year, Google wallet using was tested and an autumn release is scheduled. Last we heard, UK mobile operators (Vodafone, O2, and Everything Everywhere) will be granted EU approval for their ‘mobile wallets’. As more phones appear in the market with NFC capability such as Apple, Nokia, and Samsung, the competition is fierce, but better for customers since there are more choices.

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