Today Google has announced a new version of their Google Wallet application which is now cloud-based, and supports all credit and debit cards from Visa, MasterCard, American Express, and Discover.
Google has also added extra security features in this version, which allows users to disable their mobile Google Wallet application remotely from their Google Wallet web account.
As soon as you disable your mobile Google Wallet no transactions will be authorised, and if the Google Wallet online service can connect to your mobile device, it will clear all your card data as well.
To design the latest cloud based Google Wallet application, Google has needed to change their technical approach to storing payment cards, which Google explains below:
“The Google Wallet app now stores your payment cards on highly secure Google servers, instead of in the secure storage area on your phone. A wallet ID (virtual card number) is stored in the secure storage area of the phone, and this is used to facilitate transactions at the point of sale. Google instantly charges your selected credit or debit card. This new approach speeds up the integration process for banks so they can add their cards to the Wallet app in just a few weeks.”
For more information jump over to the official Google Commerce blog post.