Google Wallet by Gokul raj (BMIT, Jaipur)

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A fast growing technology which will soon replace your leather wallets..! more efficient, fast and secure than the traditional wallets...! Money transfer at just a simgle tap from our android hand set . and many more mind bogelling features.... download n hav fun...;)

Text of Google Wallet by Gokul raj (BMIT, Jaipur)

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2. Whatis GoogleWallet? How it works? How it works in store & how it works online? Technology used - NFC Where it works? Benefits Payments Securities Privacy Drawbacks 2 3. Android app that makes your phone your wallet. It stores virtual versions of your existing plastic cards on your phone. Simply tap your phone to pay and redeem offers using near field communication, or NFC.3 4. 4 5. MasterCard PayPassreader 5 6. 6 7. Distance 4 cm or less. Near field communication is used. Which produces radio frequency via RFID(Radio frequency identification device) and matches encryted security code & transports access key. 7 8. It is a set of standards for smartphones & similardevices to establish radio communication witheach other by touching or bringing together. Nfc standards cover communication protocols &data exchange formats & are based on existingradio frequency identification (RFID) standardsincluding ISO/IEC & Felica. Nfc uses two types of coding- Miller &Manchester. In miller 0 & 1 bit coding is done whereasmanchester is line coding or phase coding whichis sed to encode every single data bit.8 9. Matchingencrypted security code andtransporting access key. Due to short transmission range, NFC-basedtransactions are possibly secure. Instant payments and coupon delivery usingyour handset, as we do with your creditcard or debit card. Exchange of information such as schedules,maps, business card and coupon delivery in afew hundred milliseconds. 9 10. 10 11. 11 12. 12 13. Itwill not disrupt the business model currently inplace between banks, payment processors andmerchants, as Google is not seeking a percentage ofthe payment transaction fee. Itenables the provisioning of multiple bank andcredit cards, making it accessible to all banks. Itwill enable merchants to connect their Googleonline and mobile advertising directly to offlinepurchases through Google Offers.13 14. 14 15. 15 16. 16 17. 17 18. Google Wallet uses near field communicationto make secure payments. NFC is a set of standards for smartphones toestablish radio communication with each otherby touching them together or bringing them intoclose proximity. It requires pin and additional security. It stores encrypted user information on acomputer chip called the secure element. Android device can be locked with PIN. It requires additional pin to activate antenna ofNFCchip. 18 19. Itmust touch or be in close proximity to aMasterCard PayPass reader. Once the transaction is completed, theantenna is turned off. Additional transactionsrequire the PIN to be entered again. 19 20. Includes storing of data regarding paymentinformation, transaction details, payment attempts andother information. Much of the data is stored but may not be sharedoutside Google except under certain circumstances. The Privacy Policy also indicates that transactiondetails are not "currently" stored by Google, implyingthat users transaction details will be stored at somepoint. The storage of such personal information about userstransactions is of significant financial value to acompany that earns much of its revenue from data, butmay be controversial to users aware of the policies. 20 21. Canbe used only in Sprint Nexus S4G. Google Wallet is still accessible outside ofthe application. Hackers could create a wayto intercept data by eavesdropping onGoogle Analytics which monitors apps usedon the Android OS. 21 22. 22