Google Wallet allows for tap-and-go payments.
Credit: Image courtesy of Google
Businesses should be prepared for more customers interested in paying with their Google Wallet, after the latest version of the payment application was released this week.
Google Wallet turns mobile phones and tablets into an on-the-go payment option by securely storing credit and debit cards, information. Users can then just scan their mobile device at the register to pay, instead of digging into their regular wallet for a credit card or cash.
While Google Wallet was previously limited by the cards it supported, the latest version removes those problems by supporting all major credit cards, including Visa, MasterCard, American Express and Discover.
Changes also include moving credit- and debit-card information into the cloud. In previous versions of Google Wallet, credit-card information was securely stored on each individual user's device, but today's changes move this information to Google's secure servers, which allows users to enter their credit cards once and sync their payment information to each of their mobile devices.
Since payment information is no longer stored on each physical device, users can log on to the official Google Wallet and disable any lost or stolen device.
The new version of Google Wallet is available now on Google Play. Google Wallet requires a supported NFC device, such as the Samsung Galaxy Nexus, Galaxy S3 or the Nexus 7, and is currently only available in the United States.
Currently, Google Wallet can be used at any of the 140,000 merchants across the U.S. that accepts MasterCard PayPass.