A few years ago, MasterCard and visa invented paypass and payway, a quick way to pay.using your credit card, no swiping. Nfc chips are relatively new but been around for a little while. They are similar to Bluetooth technology with some extra abilities. Samsung, with the ics (ice cream sandwich) flagship known as the galaxy nexus, have joined with Google to create Google Wallet. Joint technology to save credit card, and gift card information to your phone And turn your phone into a scan and go device. How will this help us?
Now to begin I like this technology, im pretty sure its password protected and its safer, and more convenient. What it will do is keep us in line as far as our spending, im sure companies will begin producing Apps that track spending on real time (which im sure already exist). But with the info being all digital the nfc chip can directly stream the info to your bank, or card and you can receive notification of successful payment right there. People will no longer need bulky wallets, and all the plastic that goes with it. Just place the back of the phone to the credit card Machine, and keep it moving.
At first I know everyone will not agree with this technology but I'm sure the developers have come up with amazing strategies to safeguard your information, especially Google, I know theyre on they're game. With the galaxy nexus launching on multiple carriers I can see carriers offering the rebate cards directly to the phones via your Google account. No more 5-8 weeks of that aggravating wait. So, that's a little bit of info on nfc chips and Google wallet.
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