Google Modifies Their New Application Called ‘Wallet’ To Appeal To a Larger Audience
Google has released a new version of their app called Wallet, which was released on September 19, 2011. Google Wallet is an application that allows people to store their credit card, debit card, and gift card information in the cloud so that a person can make a payment using their mobile phone or tablet, instead of swiping a card.
Unfortunately for fans, Google Wallet’s initial version, which was demoed at a press conference in May 2011, only worked for people who had a certain kind of Sprint phone and who had certain accounts with Citibank and MasterCard.
Google was aware that the limitation imposed lessened the user base and that unless they expanded their reach, the app would never get off the ground so they have decided to roll out a new version of the app that will allow Google Wallet to be used with all types of credit and debit cards, which include gift cards being managed or sponsored by credit card issuers. Unfortunately, Google still only has a partnership with certain phone companies – - Sprint Virgin Mobile and compatibility on the Google tablet, the Nexus 7.
One of perks that Google is highlighting about the Wallet app is that the card information is stored in the cloud, which means that should something happen to the device you are using the app on, you can disable the service and transfer the information to a different cloud space, which would deactivate the app on the phone or tablet that was stolen. Google believes that this will increase security for the users.
Google isn’t the only company that is trying to incorporate payment options into phone apps. PayPal and Square have been playing with this technology for quite some time and actually.
Shortly after the launch of the Google Wallet application, Google was served with a lawsuit from PayPal. PayPal’s suit, which is directed to Google and two former PayPal employees who are now working for Google, alleges misappropriation of trade secrets and breach of fiduciary duty, because PayPal believes that the two former employees and Google used PayPal trade secrets to create the Wallet app. This litigation is still ongoing.
The Google Wallet application is designed to supersede Google Checkout, which was released in the U.S. in 2006.