PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Google Wallet Maturation Process Continues

Mercator Advisory Group by Mercator Advisory Group
February 15, 2012
in Analysts Coverage
0
Industry Participation in EMVCo Expands

business, education and office concept - serious business team with flip board in office discussing something

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Google has reopened the ability to add a prepaid account to its Wallet application. A security weakness flagged by a security research firm a week ago forced the search giant, in an abundance of caution, to lock down the wallet. It has now resolved that particular problem. Google’s also reminding its Android users not to “root” their phones, an act of unlocking them that circumvents many of Android’s built-in security features. Or, if they do root the phones, not to use Wallet on them.

Google historically puts its software products into the real work in beta form. It’s taking the same approach with Wallet and, despite the real risks of financial loss, what is important is the company is fixing the issues at it finds them and not hiding or protesting as some others have done. Two things are going on here. First, Wallet is in its Release 1.0 phase. The product itself needs hardening and that’s best done “in nature” where real threats and use cases exist. Second, security will always be a moving target. As new threats emerge, vendors need to respond to them in a timely manner and Google appears to be doing just that.

The post makes a point of asking whether this change will impact user trust in Google Wallet. That’s a good question. From my point of view, a swift response builds trust far more effectively than a slow or defensive one. Given the small handful of people actually using Google Wallet, the impact can’t be too widespread.

The fix prevents existing prepaid cards from being swapped from one user to another, something Google says it believes will help tighten up Wallet security overall. As for the temporary lock-down, Google reckons that – despite there being no evidence of real-world hacks – it took the step merely as a precaution.

Click here for more

Tags: Mobile Payments
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    eCommerce On Social Media, social commerce

    The Rise of Social Commerce and Social Payments

    February 3, 2023
    Electroneum AnyTask; ETN Crypto, sales enablement

    Ethical Financial Selling: The Role of Compliance Technology and Sales Enablement

    February 2, 2023
    direct deposit

    Nacha Launches Campaign to Reach Millennials on the Benefits of Direct Deposit

    February 1, 2023
    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Equinix report - Dojo Delivers Fast, Reliable and Secure Card Payments to Businesses on Platform Equinix