It was only a matter of time until we started hearing about security weaknesses in the rising “e-wallet” model.

Google (News - Alert) recently announced that it has suspended the provisioning of pre-paid cards for its own Google Wallet e-wallet service in light of at least two separate ways in which its security mechanisms were breached, TIME is reporting today.

The first weak spot was found by Web security provider Zvelo, which demonstrated how a rooted Android (News - Alert) smartphone can be vulnerable to a brute-force attack on the PIN code used to secure the Google Wallet. The second weak spot was exposed by SmartphoneChamp, which showed how clearing the data for the Google Wallet app causes users to be prompted for a new PIN upon next launching the app. From this point, a cyber-thief could associate a Google pre-paid card to get to the legitimate user’s previously available funds.

Google Wallet is a mobile payment system developed by Google that allows its users to store credit cards, loyalty cards, and gift cards among other things, as well as redeeming sales promotions on their Android phone. It uses near-field communication to allow users to pay for goods and services quickly and easily by tapping their phone on a PayPass-enabled terminal at checkout. As of right now, the Google Wallet app is available only on Samsung Nexus S 4G phones running on the Sprint (News - Alert) network

While Google maintains that its e-wallet app still remains more secure than a traditional wallet with credit and debit cards in it, the company is urging users to take precautions.

“We strongly encourage anyone who loses or wants to sell their phone to call Google Wallet support toll-free at 855-492-5538 to disable the pre-paid card,” said Google spokesperson Nate Taylor. “We are currently working on an automated fix as well that will be available soon.”