The new app is cloud-based and supports a number of credit and debit cards such as Visa, MasterCard, American Express, and Discover.
According to Telecompaper, the new Google Wallet app stores payment cards at Google servers securely and not on the phone. It’s only the virtual card number that remains on the phone to allow payments at point of sale terminals as Google deducts the users credit or debit card.
The processes will make Google Wallet App integration easier and banks can add up the cards to the app in a short time. This will also allow wallet users to use any card for their in-store or Web shopping.
Google Wallet was launched in 2011 to replace Google Checkout. The app uses NFC technology and can be used for payments at point of sale (POS) terminals.
The app is available on Web and mobile. It is enabled on various phones include Sprint, Nexus 7 and Virgin Mobile and on more than 25 national retailers. The app is also integrated with MasterCard PayPass used on more than 200,000 retail locations in the US.
Google Wallet also has an enhanced security feature for users to remotely disable their mobile wallet in case a phone is lost. The feature is found under the ‘Devices’ section online and when disabled, the device cannot perform any transactions.