The most anticipated Google Wallet has been blocked by Verizon Wireless from Galaxy Nexus over security concerns. Verizon confirmed that it will permit Google Wallet only when required security constraints and user experience will be guaranteed.
Google unveiled NFC with Nexus S and Galaxy Nexus was supposed to be the flagship device using this service through Google Wallet.
There is a word in the industry that this ban is a result of boost in competition for mobile payment system in which Verizon is expected to enter in partnership with AT&T and T-Mobile under the name Isis.
There is a word in the industry that this ban is a result of boost in competition for mobile payment system in which Verizon is expected to enter in partnership with AT&T and T-Mobile under the name Isis.
Near Field Communication (NFC) is future of payment system and thus Google has developed a security standard called Secure Element that they want to make an accepted standard in mobile payment space. This security element is expected to be the main cause of this ban as it is contradicting with security standards that Isis members are planning to implement.
No matter what the reason is; A flagship NFC device lacking Google Wallet is a major blow to this service. This news has somehow pleased Google Waller competitors like PayPal, Visa, etc.
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