I’ll take “Things that sound like a terrible idea for $200, Alex”

Google Wallet

Let’s set aside the fact that the only way to get this is with a Citibank Mastercard credit card or Google Prepaid card, and that it only works with one phone on one carrier (Sprint Nexus S 4G).

Does anyone think this is a good idea? Right now there is a group of hackers in Russia salivating.

“Oh, well, you have to unlock it with a PIN, so it’s more secure than a regular wallet!” Yeah, right. The practical effect of this will be that the guy in front of me at Starbucks will have to pull out his phone, unlock it, open the app, unlock that, and then pay for his drink. Yeah, I know, I’m impatient.

RFID payment systems have been around for for a while now, and I don’t think I know anyone who’s ever used it. That’s probably a good thing.

1 comment to I’ll take “Things that sound like a terrible idea for $200, Alex”

  • Monte

    I’ll reserve judgement for now, but I can certainly see some of the potential benefits and risks.

    Also, it looks as though Visa and Mastercard are joining in.

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