Google is on the power of your signature

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The payment system on mobile phones now works with Visa, MasterCard and American Express, the update allows users to remotely disable the service if you lose your phone.

Thanks to Google, smartphones  are one step closer to replacing our portfolio in the mobile payment revolution.

The company expanded its mobile payment platform, Google Wallet, to accept multiple credit cards. Now users can connect their Visa, MasterCard, American Express or Discover with the new version of Google Wallet. This is an update of the partnership that the company had with MasterCard, Citigroup and Sprint.

 

Instead of swiping a card, users enter the card information in the service and can pay with their phones in places that accept payments from Google Wallet. This is progress for the company, which seeks to enter the realm of mobile payment, an increasingly crowded space.

The latest update also offers a version of cloud-based application, a move that Google hopes to give greater security to users. The function allows the user to remotely turn off Google Wallet if a phone is lost or stolen.

Google Wallet will only work in technology-enabled devices with Near-Field Communication (NFC), and equipment is limited to Sprint, Virgin Mobile and tablet Nexus 7.

Currently there are 25 U.S. retailers  that accept mobile payment application from Google, and according to a post published by Google on the update, there are 200,000 places where people can use the system.

While a step forward, Google admits it still has a long way to go. Most people have not replaced their wallets for smartphones and several phones on the market do not have the NFC technology, which is integral to Google Wallet.

“Change the behavior is very difficult,” explains Robin Dua, head of product management for Google Wallet. “This development will require retailers and issuers [card] to make changes, and will take some time.”

However, Dua said that the process has already begun, as the NFC chips made smartphones are becoming the norm.

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