Google Announces Major Push Into NFC Payments With Google Wallet

[cvaldes]

You are going to regret all the additional charges. This is no Freebee folks.

Historical data shows that the American consumer is quite willing to pay more for convenience.

If they really didn't, there wouldn't be things like prewashed salad mix, frozen dinners, ATMs, etc.

It's up to the individual to figure out if the convenience of anything is worth the expense. For example, you could save a lot of money if you didn't buy a motor vehicle and just walked everywhere. However, most American adults think that the convenience of having your own motorized transportation is worth the expense.

 

[smithrh]

Wich bribes?

The "oh it'll be easier, all in one" bribe, along with the "no fees on transactions" (for a while) bribe.

Not all bribes are money-based.

 

[acidfast7]

What would I want this again?

What's wrong with just having a credit card?

 

[kenypowa]

The "oh it'll be easier, all in one" bribe, along with the "no fees on transactions" (for a while) bribe.

Not all bribes are money-based.

Do you happen to be a follower of Harold Camping? Your logic doesn't make sense.

 

[toddybody]

Same here. I like to feel paper in my wallet.

I rarely have that experience

 

[Mattstkc]

What would I want this again?

What's wrong with just having a credit card?

I have an NFC payment dongle on my key ring now via Citibank and Mastercard. It's extremely useful when I'm running, or I go out late walking the dogs, or to the market early morning and am either not in clothes with pockets or without wallet by virtue of forgetfulness or choice, I ALWAYS have my keys and phone.

It works great, and I've lost it before. Call one number, cancelled in 5 minutes, replaced in 3 days. Great option to have.

I know it wouldn't fully replace my wallet, but my wallet could go from 15 cards to probably 2, and not even a wallet but a money clip with some spare cash.

 

[Thunderhawks]

AweSome

In before an iPhone user says it's stupid but then will get excited with apple's iTunes linked version!

Haha, I was going to post that.

Don't think they can get a 30% cut though

 

[jcalica]

On Hold

*during phone conversation*

"hey tim can you hold on, i have to pay for something..."

 

[Oletros]

What would I want this again?

What's wrong with just having a credit card?

Do you remember when was said "What's wrong with just having a check?"

 

[Mattstkc]

Google + NFC = non starter

Jeebus people, what more are you going to let them collect?

Google PoopDiary! So they know when to sell me laxative at 66% off!!

 

[vincenz]

Love it. Wallets, cash, credit cards, etc. are far past antiquated.

The future is exciting indeed.

 

[hcho3]

Very insecure...

No. No. No.

Unless they are willing to give high and I mean high rebates with NFC payments. I am not interested. The potential risks are very high.

 

[Consultant]

The question is, who is cheap enough to sell all their spending habit privacy for $10?

This is great as long as we can do one thing.

Can we transfer money between phones?
That way we won't need cash really, if I can come round your home and you can sell me your old TV, and I can move $500 from my phone onto your phone then it's a winner.

Can already do it from iOS app.
http://scitech.blogs.cnn.com/2010/03/17/paypal-and-bump-transfer-money-between-phones/

 

[Oletros]

Very insecure...

No. No. No.

Unless they are willing to give high and I mean high rebates with NFC payments. I am not interested. The potential risks are very high.

Why is very insecure?

 

[sarcosis]

What? I'm still trying to figure out why you would be looking at your phone all the time because of an NFC payment system.

It's more than a Payment system. It's two parts: one is the payment the other is Google Offers. Google offers is the "Coupon" system that they are implementing to kick out offers based on NFC. There was a follow up in the Q&A session that stated that the phone didn't need to be logged in to receive the offers. The Google Offers part is opt-in though, so that should alleviate some Spam.

 

[ZMacintosh]

it would be great and all if you werent tied to a specific carrier, phone plan, specific phone for that carrier.. etc. when phones can become universal such as portable computers than i think it will be way better.

 

[ThisIsNotMe]

In the Q/A session, they mentioned "If you lose your phone, a bad guy can't pull your card information off it -- even if they've got the PIN."

That's from thisismynext.com

That is what they *claim*.
I am sure someone will find a way around it like they find a way around everything else.

 

[Consultant]

What would I want this again?

What's wrong with just having a credit card?

So Google can make money from its herd of users, by selling data to Google's real customers: advertisers.

 

[cvaldes]

Very insecure...

No. No. No.

Unless they are willing to give high and I mean high rebates with NFC payments. I am not interested. The potential risks are very high.

Nah, the Japanese and South Koreans have been using RFID-chipped cellphones since 2005 and there are no horror stories coming out of Southeast Asia. The Japanese call them "osaifu keitai" (literally "wallet phone").

They use them as transit passes, entertainment ticketing, loyalty programs, buying groceries, etc. The "osaifu keitai" had rapid consumer acceptance due to the fact that it could function as a Mobile Suica card (the pass for the big JR East rail system covering metropolitan Tokyo).

This isn't uncharted territory. The United States is (again) way behind in mobile telephony technology.

In any case, you aren't required to use the system. You are free to pay cash or pull out your wallet and swipe a credit card.

 

[Necross]

I can admit the convienience is nice, but seriously... How wise is it wise to have all your banking stuff on a mobile device that can easily be lost or stolen, a lot easier than your wallet could?

You know what they say about a fool and his money...

 

[Themaeds]

Great so when my phone dies I'm completely screwed.

Or dont throw away your credit cards?

#Overreaction

 

[toddybody]

Why is very insecure?

Since NFC works via remote proximity...the possibility exists that someone could charge you as they walk by. Also, if your phone is stolen, you're FUBAR.

 

[Piggie]

The question is, who is cheap enough to sell all their spending habit privacy for $10?



Can already do it from iOS app.
http://scitech.blogs.cnn.com/2010/03/17/paypal-and-bump-transfer-money-between-phones/

Funnily enough, after I posted that I thought about PayPal already being in place.

Of course, it means everyone should get a PayPal account and it needs to work across all platforms.

They do take a cut though

 

[sarcosis]

Since NFC works via remote proximity...the possibility exists that someone could charge you as they walk by. Also, if your phone is stolen, you're FUBAR.

The NFC send function is only enabled if you are currently logged into your wallet which requires a PIN. If you are not actively logged in, it doesn't transmit, so it's less likely than a traditional NFC chip in the Credit Cards that you see today.

Also, lock your phone with a pin or the sequence thing that Android has. Loose your phone, remote wipe it and you are good.

 

[ratzzo]

Since NFC works via remote proximity...the possibility exists that someone could charge you as they walk by. Also, if your phone is stolen, you're FUBAR.

I'm gonna take a wild guess and assume to unlock NFC payment options you'll have to enter a code. And this code, while in the memory, might be encrypted.