I still remember the generation of payment history during shopping, it crossed from coins, to paper notes, to plastic notes(not in India) and to plastic cards. Now it is a time to replace all our pratices and moved to Smartphones enabled with NFC(Near Field Communication).
Yet an interesting and innovative app from Google with named Google Wallet to replace your wallet with Smartphones. Google wallet is an android mobile app, it stores your card information in virtual memory of the smartphone devices. Where you have to just tap your phone to pay and redeem your offers and also it stores thousands of payment cards, offers, loyalty cards, gift cards, receipts, boarding passes, tickets and even your keys will be synced to Google Wallet via NFC
Default question arises on security ?….. It consider to be more secure way of payment compare to swipe your card through MSR(Magnetic Strip Reader) Device, because Google Wallet PIN and Secure Element protect your payment card information, If there is a lost of card you can call your issuing banks to cancel your cards.
Google Wallet is now released on Nexus S 4G by Google, available on Sprint for Citibank and Master Card customers. Soon you can expect these services for all vendors.