07 December 2016
Visit aciworldwide.com

Google wallet anniversary falls flat as new software problems emerge

30 May 2012  |  10154 views  |  0 google wallet

The celebrations marking the first anniversary of the launch of Google Wallet promise to be a gloomy affair, with the emergence of a new flaw that disables the wallet functionality following a simple factory reset on NFC-equipped Android handsets.

A factory reset is a fairly common solution deployed by mobile phone users when their apps begin to play up. But for phones with Google Wallet pre-installed, the reset trips the secure element in the device, in the process killing-off the Wallet function.

User forums on the Phandroid fan-site for Android users have begun to buzz with news of the glitch, and Google's failure to address the issue.

The bug is the latest in a string of mishaps to have befallen Google since it launched its mobile wallet at a much-hyped event in New York on 26 May last year.

In February, Google was forced to temporarily disable provisioning of pre-paid cards for the Wallet after researchers found a number of gaping security holes in the application.

At the time of its launch, the search engine colossus billed the event as a tipping point in the development of an open mobile payments platform.

However, despite securing licensing agreements with all of the major card schemes, the company has struggled to win bank, carrier, and merchant support for the project beyond the initial launch partners of Citi and Sprint. Minimal device and terminal support for the wallet has also stalled momentum, while the steady departure of many members of the original launch team has pointed to deeper strategic problems.

Google has reportedly considered sharing revenue generated from mobile payments with carriers, in a bid to get them to support the Wallet, and in April it acquired pre-paid card processor TxVia to beef up its Wallet offering with improved security and transactional analytic functionality.

However, Google's failure to capitalise on its early lead has left the field wide open for a host of competitive offerings from the likes of PayPal with its NFC-lite approach and the Isis consortium of US telcos.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Google launches pre-paid NFC transit card in Kenya

Google launches pre-paid NFC transit card in Kenya

25 May 2012  |  8248 views  |  0 comments
Google buys payments firm TxVia; loses Wallet co-founder to Square

Google buys payments firm TxVia; loses Wallet co-founder to Square

03 April 2012  |  8551 views  |  0 comments
Google Wallet suffers further setbacks as key execs jump ship

Google Wallet suffers further setbacks as key execs jump ship

20 March 2012  |  12109 views  |  2 comments
Google Wallet PIN vulnerability exposed

Google Wallet PIN vulnerability exposed

09 February 2012  |  12249 views  |  0 comments
Google payments exec Gupta quits

Google payments exec Gupta quits

27 January 2012  |  7758 views  |  0 comments
Google Wallet stores unencrypted data - viaForensics

Google Wallet stores unencrypted data - viaForensics

13 December 2011  |  10311 views  |  0 comments
Google Wallet coming to UK ahead of Olympics - report

Google Wallet coming to UK ahead of Olympics - report

12 December 2011  |  13201 views  |  0 comments | 1 tweets
Verizon refusing to support Google Wallet - report

Verizon refusing to support Google Wallet - report

06 December 2011  |  8495 views  |  2 comments
Google checks out of Checkout

Google checks out of Checkout

17 November 2011  |  9210 views  |  0 comments
Google Wallet gets SingleTap for coupon redemption

Google Wallet gets SingleTap for coupon redemption

18 October 2011  |  10213 views  |  0 comments
Citi rounds on Isis, urges other banks to join Google Wallet

Citi rounds on Isis, urges other banks to join Google Wallet

12 October 2011  |  18214 views  |  5 comments
Google takes the wraps off mobile wallet

Google takes the wraps off mobile wallet

26 May 2011  |  15604 views  |  1 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit contisgroup.comhttp://www.financialcrimerisk.fiserv.com/aml?r=finextraFind out more

Who is commenting?

A Finextra member Finextra Member Commented on: Payments regulator blo...
A Finextra member Finextra Member Commented on: Payments regulator blo...

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7416 views 12 comments | 15 tweets | 26 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
6820 views comments | 25 tweets | 15 linkedin
China tops world fintech rankingsChina tops world fintech rankings
6592 views comments | 34 tweets | 30 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6010 views comments | 16 tweets | 18 linkedin
Big tech policy group calls on Trump to promote fintech innovationBig tech policy group calls on Trump to pr...
5633 views comments | 22 tweets | 11 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job