Google recently rolled out Google
Wallet using a near-field communication (NFC)
chip on its 4G smartphones. NFC is a technology
that allows the transmission of data over short
distances. Google Wallet is compatible
with PayPass merchants so you can tap or
wave your phone to make your payment anywhere
PayPass is accepted. Yet to launch in Oz,
we here at the ACMA are watching its success in the
US market and what this might mean for our own use
of the technology once it becomes available.
While security seems an obvious concern, the
Google Wallet, much like a credit or debit card,
PIN to be entered before making a purchase.
Google knowing what you buy also seems worrying; however, it doesn't record what you buy at the
moment—only transactions via amount paid,
location and date are viewable to the consumer.
There are more competitors entering this space
VISA Digital Wallet,
Paypal Mobile, and possibly
While it's safe to say that most of us wouldn't
leave the house without our mobile phone, it's
another thing to suggest that the death of the
wallet is here. The real-world testing phase for
mobile wallets has just started and I anticipate
we'll have a few more years before we bin the
sturdy and sometimes bulky wallet to combine our
fortune with our telephone—watch this space, I
know I will be!