Everyone was aware of the mobile payment app launched by Google for Android and ios users which enabled people to maintain a wallet electronically through a smart device. Google wallet app was nothing but a electronic wallet that lets you store your credit cards, debit cards, customer loyalty cards, gift coupons, information on your bank account and much more just like your physical one. The basic idea was to make a wallet electronically to handle all your needs with a device. You were also given the honor to pay from your Google wallet using Near field communication on your smartphones.
Near field communication is nothing but a short range wireless technology that allows you to pay things like parking tickets, Entry tickets, etc., It works like if you tap your phone or NFC enabled device in a NFC terminal it allows a transaction, the receipt of which is directly sent to your email. Nowadays a majority of devices in the market are NFC enabled.
Google wallet app incorporated this idea to make a mobile payment system all you had to do was to download the app, add your credit card, debit card, loyalty card, gift cards, and what not and start your transactions online or through NFC or even you was entitled to send money to anyone with a email account. And all this is free yes Google does not take up any service charges instead they tend to earn through ads. If the service is free naturally people will opt it which results in more number of people accessing the app.
Off late they have started to issue Google Wallet Debit cards which is just as like your every other normal debit card gives you the credit to swipe and pay. This plastic card is linked to your Google wallet account and you can use this card at ATMs or wherever they accept Mastercards. These cards come with Magnetic Strip which allows them to be used only in US and not in other countries.
Using the Google wallet is all simple download it, transfer your funds, apply for your debit card, activate it and start swiping right away (Only for the US folks) for other let it be a added information in your knowledge banks. Well the only kind of lag is the money should be transferred from your existing accounts into your Google account which is kind of a double work all the teeny weeny lazy bugs like me would think why take the extra pain when you already have a working debit card. Unless and until the money keeps flowing through your Google wallet through some online transaction using the wallet card would be a extra pain in the mile.
Check this You Tube video to see the idea visually