When Google (News - Alert) Wallet was first rolled out, it was being billed as the next generation in payment systems. People thought that the program, paired with near field communications devices, would make it so that users never had to take their actual wallets out of their back pockets or purses again. Of course, if that is eventually how Google Wallet changes things, it is slow in coming.
Part of the problem for Google has been security issues that have led to less people willing to store their credit card information in the application. While the Internet giant claims that the security flaws have now been solved, people don’t like to think about their Google Wallets being so easily hacked.
People want to know that their financial information is going to be safe at all times. Google has therefore seen problems with adoption and is now actively looking for solutions that would encourage more and more people to take up the application.
Google is apparently starting to target cellular phone providers and trying to get them to simply offer up the app as one of a group that is pre-loaded on the phone. In order to get this to happen, several recent reports say that Google is actually looking to share any revenues made off of the app with the cellular providers themselves.
Part of the problem for Google has been that not all cellular providers offer Google Wallet. The company believes that if they make it worth a company like Verizon’s (News - Alert) time financially, they will come aboard. At the moment Verizon uses a different NFC payment application on their phones.
Of course the other half of the equation is Google getting more retailers and businesses using NFC devices. If Google Wallet users don’t have a ton of different businesses who are willing to allow the ability to simply tap your phone on a certain device, there is less of a reason to have the application.
Google has talked about pushing out coupons that would also drive more people to look at getting the application. The company has had to rethink their approach to Google Wallet and only time will tell if they are getting it right this time.
Edited by Jennifer Russell