Near-field communication (NFC) technology allows a consumer to wave their mobile phone at a point-of-sale terminal to make a purchase via the use of a "digital wallet." One of the fast-growing cases of the digital wallet is the appropriately known as Google Wallet, but it pays to know just a little bit about how it really works before you jump in to the cashless (and cardless) retail revolution.
Google Wallet - A setup primer
To begin, go to the Google Wallet site to set up a free account. Then, download the Google Wallet application to your compatible smartphone. Link your credit and debit cards to the account, and designate a preferred card. Then you can use Google Wallet to pay at stores where hardware that can accept digital wallet payments is present.
Account figures in your phone
When you use Google Wallet, an account number is given to you. Then, that account number is used to draw funds from whatever card you have the account connected to. There are some instances where the preferred card is charged later, but generally the virtual card is charged. The preferred card is always chosen when making an online payment.
All account information is stored with the master number instead of on the phone. Then, if your phone gets stolen, you can have anything wiped remotely and have Google Wallet deactivated. This keeps all your personal data from getting stolen by thieves.
Wallet of credit cards not needed
Rather than carrying around a huge 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, probably, making it much easier very soon to avoid a wallet altogether.
Google Wallet - A setup primer
To begin, go to the Google Wallet site to set up a free account. Then, download the Google Wallet application to your compatible smartphone. Link your credit and debit cards to the account, and designate a preferred card. Then you can use Google Wallet to pay at stores where hardware that can accept digital wallet payments is present.
Account figures in your phone
When you use Google Wallet, an account number is given to you. Then, that account number is used to draw funds from whatever card you have the account connected to. There are some instances where the preferred card is charged later, but generally the virtual card is charged. The preferred card is always chosen when making an online payment.
All account information is stored with the master number instead of on the phone. Then, if your phone gets stolen, you can have anything wiped remotely and have Google Wallet deactivated. This keeps all your personal data from getting stolen by thieves.
Wallet of credit cards not needed
Rather than carrying around a huge 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, probably, making it much easier very soon to avoid a wallet altogether.
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