Google Wallet update will introduce physical credit card, sending/receiving money, and more [LEAK]
When Google had us signing up for an upcoming Google Wallet update (you can request an invite here) we knew we knew they were planning something big… but not this big. Looks like Google is getting ready to turn the financial world upside down when they introduce their very own physical Google Wallet card — one card to rule them all.
Google’s not stupid. They know the biggest hurdle they’ve faced in getting Google Wallet up and running has always been slow NFC or Paypass adoption. As much as you’d like to use your Android device loaded up with all your credit cards to make hassle-free NFC payments, it’s simply not accepted everywhere. But you know what is? The credit card.
Revealed in a leaked version of the Google Wallet app was the ability for users to sign up and receive a physical Google Wallet card. Now, whenever you are purchasing something from a merchant that doesn’t have a Paypass enabled register, simply whip out you’re Google Wallet card and you’re good to go. We assume it will be similar to a debit card — where a user will have to enter their pin — but that’s not entirely clear at the moment. Oh, and it isn’t just credit cards either. Users will be able to load up their transit cards onto Google Wallet, and even send/receive funds ala Paypal or Square.
The benefits are numerous. You no longer have to carry around a George Castanza wallet (guilty!), they will all be consolidated into one Google Wallet card. What’s more, if you ever lose your wallet or card, all those individual credit cards will remain safe, tucked away in Google’s cloud. Phone low on battery or dead altogether? No worries. The physical card makes a great backup.
You can just smell the innovation pouring out of Google HQ. Those guys are onto something BIG and we can’t wait.
[via Android Police]