By ONE Liners Agency
The long-waited Google Wallet has finally been revealed that allows people to make purchases or payments by their Android-based smart phones using the near-field communication technology. But many are of the opinion that it won't succeed. Lets see the reasons why it won't.
Google should know that the key to the success of the Google wallet would depend hugely on how much secure it is. To give better security, the company needs its users to keep a PIN that would be required for each and every purchase. The company assured that the payment details would be encrypted with the help of the Master card's Paypass technologies and users would be secure. But as the cyber criminals get accustomed to Google's encryption technologies they would be able to hack in anyone account quite easily. Another problem would arise if a user loses his smart phone. To that problem Google provides only one solution: disable all your credit cards which alone could hamper Google Wallet's way to success.
Another big challenge for Google to succeed would be getting the vendor support. The Google official statement said that the Wallet would be available on the Nexus S 4G from Sprint first and more devices will follow shortly. But the problem would be that the Wallet only works on NFC enabled devices and there are only two in the market that support this technology. More companies will support this technology in the future but as of now if Google does not get the kind of support it needs, from the vendors it won't be long before the Google Wallet fails. To make the Google Wallet a success the company needs other merchants to support the NFC operated devices.
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| Google Wallet |
Google should know that the key to the success of the Google wallet would depend hugely on how much secure it is. To give better security, the company needs its users to keep a PIN that would be required for each and every purchase. The company assured that the payment details would be encrypted with the help of the Master card's Paypass technologies and users would be secure. But as the cyber criminals get accustomed to Google's encryption technologies they would be able to hack in anyone account quite easily. Another problem would arise if a user loses his smart phone. To that problem Google provides only one solution: disable all your credit cards which alone could hamper Google Wallet's way to success.
Another big challenge for Google to succeed would be getting the vendor support. The Google official statement said that the Wallet would be available on the Nexus S 4G from Sprint first and more devices will follow shortly. But the problem would be that the Wallet only works on NFC enabled devices and there are only two in the market that support this technology. More companies will support this technology in the future but as of now if Google does not get the kind of support it needs, from the vendors it won't be long before the Google Wallet fails. To make the Google Wallet a success the company needs other merchants to support the NFC operated devices.
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