
By Gina Jordan, contributing editor, Avisian Publishing
The world of mobile payments took a step forward in September when the Google Wallet was rolled out. The mobile application provides secure storage of payment information and uses near field communication (NFC) to complete a transaction. It takes a simple tap of the phone to make a purchase.
The Google Wallet is only available to Sprint customers with Samsung Nexus S 4G or Samsung Galaxy Nexus smart phones. So, the app isn’t exactly spreading like wildfire. Besides being limited to one type of phone in the U.S., questions are being raised about the security of the app.
ViaForensics, a digital forensics firm specializing in mobile security, released an analysis of the Google Wallet at the end of 2011. The analysis found that while the Wallet is generally secure, it leaves too much information unencrypted on the phone.