Google is planning to launch an NFC-based pay-by-wave system, quite possibly this year, according to anonymous sources who talked to Bloomberg about the chocolate-factory's plans. Not that the sources revealed much in the way of detail, only that Google is developing support for payments to be made in physical stores with a wave …
"but the secure element makes transactions much more secure"
Surely you mean: "but the secure element makes it easier for banks/google/whoever to pass the liability for fraud to the customer."
smart or better?
wow, when we pay, we can get ads on our credit cards for the special offers on badgers paws on the 4th floor of the shop we are in!
New ways to fund terrorism
Pay by Wave = Terrorist Funders Wet Dream
Naff All security
and rip off 50p 2 million times in a year = £1m/pa raised for the terrorist of your choice
card owners probabaly wont notice
the police would not be interested in the report of a 50p crime
banks will just write it off as the cost of doing business.
I would propose a different idea. Google has clearly identified that they are interested in the 'Groupon-like' market. If they are able to track basic shopping patterns and combine that with collected data of web browsing then I'd say Google has a serious competitive edge in that market space. After all the only reason why organizations allow these types of cupons to be used is to simply drive business. By entering this space it can help drive two new lines of business for Google. Smart play.
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