Google Wallet has been the subject of criticism since its release
Google Wallet is no stranger to criticism. Since the mobile payment platform was released a year ago, it has been the target of harsh criticisms concerning its inability to accommodate consumers and its lackluster security measures. Google has invested heavily into the mobile commerce industry in the hopes of establishing itself as a leader in the market. The criticisms that have been levied against Google Wallet could serve to destabilize the company’s efforts, thus leading to a revamp o the mobile payment system.
Changes to platform include expanded coverage for credit cards and the introduction of a cloud component
Google has announced that it is expanding the range of credit cards that are usable with the mobile payment platform. The wider range of credit cards is expected to make Google Wallet more attractive to a wider range of consumers, thus increasing its adoption. The technology company has also announced the integration of a cloud computing component, which is designed to address the security issues that have plagued Google Wallet for some time.
Cloud to make Google Wallet more secure
The cloud component is, perhaps, the most welcome change to the Google Wallet platform. Previously, Google Wallet would store the financial information it used within the phone on which it was installed. Google had touted the security measures they had in place as well as the inherent security of NFC technology. Despite the company’s insistence that Google Wallet was secure, intrepid hackers were able to bypass its security measures using simple methods. Now, Google Wallet will be storing financial information on a cloud network, which can be deactivated by consumers in the event that their smart phone is stolen.
Slow and steady approach may benefit Google in the industry
Google is the first large company to experience the dangers of the mobile commerce industry first hand. The company has managed to retain its place in the industry, but is beginning to change its approach to the burgeoning global market. The company may be taking a lesson from competitor Apple, which has recently announced its slow and steady approach to the mobile commerce industry. This cautious approach may help both companies avoid future troubles.
