Post by account_disabled on Dec 30, 2023 12:29:55 GMT 7
There are many mobile wallet systems that enable consumers to pay with their mobile phone and Google Wallet is one of them. Google Wallet allows users to input some of their payment card and reward card information into a mobile phone for later use. The system is based on a technology called "NFC" (Near Field Communication). If a payment terminal has been upgraded, users can log into their phone, select an approved payment method, and make a payment. There are many other Mobile Payment companies such as Isis and PayPal that have created similar systems. The problem with these mobile wallets is that they require upgraded payment terminals to function. To make a payment with a phone using Google Wallet, the payment terminal needs to be NFC equipped.
Most payment terminals in the U.S. do not have NFC and the ones that do have NFC are rarely used by consumers. Industry experts estimate that it will cost billions of dollars and take 7-10 years for NFC terminals to be common in the Until this upgrade is complete, mobile wallets are considered useless by most consumers because old fashion plastic cards are still required. There are rumors that Google is addressing this issue with the "Google Card" The Google Card is rumored to be a physical MasterCard that users can attach to their Google Wallet. Users would "fund" the Google Card with Email Marketing List a pre-selected payment method. When used, merchants would charge the Google Card which would then charge the users pre-selected payment method. This would allow people to make payments at most payment terminals but what is the point? The Google Card does not emulate other cards, so if a user wanted to access their ATM, they would still have carry around their wallet.
In fact if a user wanted to do most things that their typical wallet allows, they would have to carry around their normal wallet. For example, their gym membership magnetic stripe card cannot be emulated by the Google Card. Many people have said things like "Why should I use the Google Card, it's just another card in my Wallet?" No one has a good Yes answer, but there are more practical solutions. A unique and useful mobile wallet company, Omne, developed an emulating card with a magnetic stripe that transforms the Omne card into anything stored in a typical wallet, i.e. credit cards, debit cards, membership cards, gift cards, etc. The Omne card achieves wireless communication with a Smartphone or tablet that commands transformation of the magnetic stripe into any verified card the user uploaded on their mobile wallet. No secure company has been able to develop a mobile wallet platform that works on all current payment terminals except Omne.
Most payment terminals in the U.S. do not have NFC and the ones that do have NFC are rarely used by consumers. Industry experts estimate that it will cost billions of dollars and take 7-10 years for NFC terminals to be common in the Until this upgrade is complete, mobile wallets are considered useless by most consumers because old fashion plastic cards are still required. There are rumors that Google is addressing this issue with the "Google Card" The Google Card is rumored to be a physical MasterCard that users can attach to their Google Wallet. Users would "fund" the Google Card with Email Marketing List a pre-selected payment method. When used, merchants would charge the Google Card which would then charge the users pre-selected payment method. This would allow people to make payments at most payment terminals but what is the point? The Google Card does not emulate other cards, so if a user wanted to access their ATM, they would still have carry around their wallet.
In fact if a user wanted to do most things that their typical wallet allows, they would have to carry around their normal wallet. For example, their gym membership magnetic stripe card cannot be emulated by the Google Card. Many people have said things like "Why should I use the Google Card, it's just another card in my Wallet?" No one has a good Yes answer, but there are more practical solutions. A unique and useful mobile wallet company, Omne, developed an emulating card with a magnetic stripe that transforms the Omne card into anything stored in a typical wallet, i.e. credit cards, debit cards, membership cards, gift cards, etc. The Omne card achieves wireless communication with a Smartphone or tablet that commands transformation of the magnetic stripe into any verified card the user uploaded on their mobile wallet. No secure company has been able to develop a mobile wallet platform that works on all current payment terminals except Omne.