Google wallet Research Paper Example | Topics and Well Written Essays - 500 words

Google wallet - Research Paper Example With the help of Google Wallet, people can successfully make secure payments by simply tapping the mobile phone and then entering the security code on PayPass enabled terminal checkout. The overall process of making transaction is simple and convenient for the users. Despite of the fact that Google Wallet technology has recently been introduced and it is still in its early stages, however it has been predicted in next few years and it would grow and increase its users. Google do not be charging any amount from users and merchants for having access to wallet. Debit or credit card if stolen can be used in some situations without signature or personal identification number however Google wallet has an extra layer of security as additional security is required to complete transactions (Google Wallet). Google has claimed that it is just the starting of a new era and in future Google Wallet would become a necessity for everyone (Google Wallet). Also it is expected that with the passage of time, compatibility of Google Wallet would extend to all Google Android smartphones. Google aims to support all the cards that an individual would keep in his wallet so that Google Wallet can take place of these cards (Google Wallet). According to Drew Sievers, CEO of mFoundry, sales volume of Google wallet would grow as the number of merchant increases, more banks sign agreement with the company and new phones are made compatible. He further added that merchants would be able to have an increase in the number of qualified customers as Google Wallet grows (Tode. 2011). Google has to face different challenges in order to ensure growth of Google Wallet and make it a success and the most important hurdles or challenges that it has to face are providing different variety of cellular phones compatible with the software, making the software easy to use and interested cardholders and merchants ready for the software. However, considering the