Google Wallet leak shows off new physical credit cards
1–10 of 44 posts
Re: Google Wallet leak shows off new physical credit cards
#2I thought google wallet was supposed to replace the cards I carry, not adding another one to it.
Re: Google Wallet leak shows off new physical credit cards
#3So the recent change to Google Wallet to let you use any card you wanted basically worked by creating a virtual credit card that acted as a proxy, and transmitting that card number using NFC. When the charge hit that virtual card, they would then process a corresponding charge to your real card.
It looks like they're going to give you the option of getting a physical representation of that proxy card.
One thing I'm curious about though is how chargebacks get handled with this system. Say I have the proxy card pointing at my Amex, I go buy something, and Google forwarded the charge to my Amex. Now for whatever reason I need to do a chargeback. Who do I talk to, Google, or Amex? How would that even work?
Re: Google Wallet leak shows off new physical credit cards
#4Note to Google: If the world hears about your new secure payment system via a LEAK you're off to pretty bad start.
Re: Google Wallet leak shows off new physical credit cards
#5Looks like google wallet is a not-so-well-liked app:
https://play.google.com/store/apps/details?id=com.google.and...
Re: Google Wallet leak shows off new physical credit cards
#6Looks like google wallet is a not-so-well-liked app: https://play.google.com/store/apps/details?id=com.google.and...
Seems like they deployed a version that broke the app on Nexus S.
The remaining one stars are users complaining about lack of support on various android phones.
So looks like people are really interested in using it but can't get proper access to it, those than can do like it,
Re: Google Wallet leak shows off new physical credit cards
#7Source with more images:
http://www.androidpolice.com/2012/11/01/introducing-the-phys...
Re: Google Wallet leak shows off new physical credit cards
#8I'd use this and like it much more than the digital wallet.
The idea of my phone dying and leaving me with no means of communication and no means of payment sounds like a good way to make a bad day go to much worse.
As someone who travels frequently on business and is in places where I dont know a soul and arrive at sometimes odd hours - that scenario is terrifying to me.
Re: Google Wallet leak shows off new physical credit cards
#9So the recent change to Google Wallet to let you use any card you wanted basically worked by creating a virtual credit card that acted as a proxy, and transmitting that card number using NFC. When the charge hit that virtual card, they would then process a corresponding charge to your real card. It looks like they're going to give you the option of getting a physical representation of that proxy card. One thing I'm c…
Does Google forward the charge to Amex, or does the Google Wallet Apps just simulate the Amex card's NFC signal, so that the merchant can't tell the difference? If the latter, you obviously deal with Amex
Re: Google Wallet leak shows off new physical credit cards
#10Huh. So I'll have one credit card to carry around that will just pass through the charge to another card I'm carrying around, because none of this stuff is yet reliable enough to abandon my wallet entirely.
Sorry for the abrasive skepticism here... it's part of being in the industry. But I see one of two scenarios playing out here:
1) Google becomes (buys/owns/works with/...) a proper Issuing Bank giving out real lines of credit for a credit card. They get interchange fees when you use your card, just like any other card issuer. No real value is added to the equation, and it's yet another service that Google offers which becomes a nightmare if you need to speak with a human - which when you're dealing with people's money is quite often. They may have a decently searchable web UI for your transaction history, but so does Mint.
2) Google does some clever magic where they authorize one of your cards on file when you swipe your Wallet card, and just pass through the result. Because they still need to act as an issuing bank here, they either raise interchange over the real issuing bank of the actual card (store owner gets screwed), or charge the same or less and eat the loss. Presumably they'll make up this way by creepily using your purchase history.
Neither of these scenarios does anything to move retailers closer to NFC adoption (actually useful for Google/Android), and I'm not sure how many people are willing to have some "one card to rule them all" thing going on, which is the only real benefit I see to the consumer here.
Having my wallet 3mm thinner isn't enough benefit for me to not pick the best rewards card based on where I'm shopping, never mind the fact that I don't trust Google with my financial data (or, more accurately, I don't see any benefit in giving them access to it)