- What are they?
- How do they work?
- How can you create one
http://www.gpayments.com/pdfs/GPayments_eWallet_Whitepaper.pdf
http://www.investorwords.com/1681/electronic_wallet.html
http://www.google.com/wallet/how-it-works/index.html
What I learned:
- with the electronic you can carry all your cards credit, debit,etc. on your phone and access them whenever you want
- you can also have an account with your wallet information so that if you are going to buy an app on your phone you do not have to re-enter all your information but instead it automatically charges the game to the card you entered
- smart phones with special chips that can transmit credit card information and receive store offers.
- this wallet also enables you to buy thing online you just have to look for the button that enables you to pay with your Google Wallet.
- only 2% of the phones have the chip that enables them to pay
- the technology used to enable this kind of technology is called NFC: near-field communication
- only 25 of the top 100 U.S Retailers are set up to accept this payment type.
- purchases you make online are backed up by their fraud protection policy (Google Wallet).
It connects to me because my phone has this technology and I have a Google Wallet account., I have used this account various times to buy apps I want but I didn't know you could buy with it in online stores.
Will this type of technology strive, succeed?
Will all retailers/stores want to acquire the technology to enable their costumers to use this technology?
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