Msg#: 4417306 posted 9:41 am on Feb 14, 2012 (gmt 0)
Six months after Google introduced Google Wallet, the app, enabled by near-field communications, or NFC technology, is still struggling to find carrier and device partners, as well as, retailers willing to support the new technology. And last week, the company temporarily took part of the Google Wallet application offline while the company figured out how to fix a security issue.
Could Google Wallet soon go the way of other interesting Google pet-projects like Google Labs, Google Health and Google PowerMeter? Those programs were all canceled after Google's CEO Larry Page said the company needed to focus on its core business and "put more wood behind fewer arrows."
On Friday, Google temporarily disabled the ability to set up new prepaid cards in its Google Wallet app after it was discovered that if someone lost his Google Wallet-enabled phone and the screen of the device wasn't locked that someone finding the phone could reset the PIN and gain access to whatever money was left on the Google Prepaid card.
The way that Google Wallet works is that it stores a user's credit card information, as well as information for a prepaid Google payment card, in a digital app on the phone. Subscribers can use any of the credit cards stored in Google Wallet or the prepaid card when checking out at a store by tapping their phones to a payment terminal.