Google Wallet is Joint venture :

Google – Internet and search Engine King.

MasterCard – After VISA, Second Most popular ATM, Debit and Credit Card Company.

Sprint – An American Giant telecommunications company with huge presence in wireless telecommunication and mobile technology.

First Data – American payment processing and data security company.

How Google Wallets Works :

1> Google Wallet will live on Google’s Smart phone Nexus S as an APPs.

2> Live apps will ask to associate google with it.

3> In next Step, you will have to associate your credit card details with account.

4> Now choose your wallet card from default Citi MasterCard and Google debit card to suck money from attached credit card ( as mention in step 3) .

5> Citi Master card will get fund from Associated Citi Master Card. Google Debit card will suck money form any other credit card.

6> Citi/Google verifies credit card with First Data.

7> If First Date confirms associated credit card is OK, then you are ready to experience new online shopping payment method.

8> For retail transactions require PayPass-enabled terminal.

9> Tap phone on the terminal to have the money withdrawn from Google wallet account.

Security.

All Google wallet Enable Nexus S phone will have Smart Card Chip/ Secure Element Chip Model PN65 From NXP. Attached chip Model will store credit card information along with banks verified code against any credit card.

> Phone screen manually unlocked

> PIN number to Open Wallet Apps.

> Over $100 can be verified via text messages or e-mails first

> credit card number is never fully displayed. On Screen you see just last 4 Digit of Credit Cards.

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