Will Google Wallet replace the conventional wallet? Many think such electronic wallet services are the wave of today.
Google Wallet - A setup primer
At the Google Wallet site, you can easily set up an account linking your credit and debit cards to the account. You even get to pick a preferred card with it. Then, you just have to download the application to your cell phone and try to find the digital wallet payment in stores where you can then pay through the app.
Assigning account number
Google Wallet works by assigning the consumer a virtual MasterCard account number. The account number is used to draw funds from your credit or debit card of choice, be it Visa, MasterCard, American Express or Discover. When used offline, the virtual MasterCard number is the one used by the merchant except in rare cases involving Citi MasterCard, then the preferred card is charged later. Online purchases charge the preferred card directly.
The benefits of using a virtual account number are obvious. Chief among them is preventing thieves from capturing your actual account data. As the information on connected cards is stored online instead of within the cell phone, if the phone is lost or stolen, it's easy to deactivate Google Wallet and wipe the app remotely.
Wallet of credit cards not needed
Instead of carrying around an enormous wallet full of all kinds of credit and debit cards, you can use Google Wallet. Most people can leave the wallet at home and just take a phone with them in the future. Soon, your driver's license and other things will be digitized too, most likely, making it much easier very soon to keep away from a wallet altogether.
Google Wallet - A setup primer
At the Google Wallet site, you can easily set up an account linking your credit and debit cards to the account. You even get to pick a preferred card with it. Then, you just have to download the application to your cell phone and try to find the digital wallet payment in stores where you can then pay through the app.
Assigning account number
Google Wallet works by assigning the consumer a virtual MasterCard account number. The account number is used to draw funds from your credit or debit card of choice, be it Visa, MasterCard, American Express or Discover. When used offline, the virtual MasterCard number is the one used by the merchant except in rare cases involving Citi MasterCard, then the preferred card is charged later. Online purchases charge the preferred card directly.
The benefits of using a virtual account number are obvious. Chief among them is preventing thieves from capturing your actual account data. As the information on connected cards is stored online instead of within the cell phone, if the phone is lost or stolen, it's easy to deactivate Google Wallet and wipe the app remotely.
Wallet of credit cards not needed
Instead of carrying around an enormous wallet full of all kinds of credit and debit cards, you can use Google Wallet. Most people can leave the wallet at home and just take a phone with them in the future. Soon, your driver's license and other things will be digitized too, most likely, making it much easier very soon to keep away from a wallet altogether.
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