Google has announced, to some fanfare, what it hopes will be a revolution in the way we pay for things: Google Wallet.
Google Wallet is a smartphone app (currently only available for the Nexus S 4G Android phone) that aims to replace your credit cards.
It works like this. You go to a store (let’s imagine it’s a coffee shop), the barista hands you your steaming skinny caramel macchiato and a toasted onion bagel with low fat cream cheese and bacon, and rather than give them your credit card or reach into your pocket for some coins, you..
* take out your smartphone
* unlock it
* run the Google Wallet app
* enter the PIN for your Google Wallet app
* swipe your smartphone against the coffee shop’s pay point.
The Google Wallet app uses NFC (near-field communications) technology in your smartphone to wirelessly debit the credit card you have linked with the application.
Read more in my article on the Naked Security website.