Securing PIN numbers on Google Wallet

By Bizclik Editor


We reported yesterday that Google launched its Google Wallet service, a cloud-based service that allows for mobile payments by using a NFC-enabled smartphone. In keeping with the digital age, Google hopes that this new service will pave the way to allow consumers to leave their credit and debit cards at home and never have to sign a piece of paper ever again. Just by tapping a smartphone against a payment reader, Google Wallet is aimed to change the shopping experience.

However, reports are coming out about the safety of NFC (near field communication) technologies and how vulnerable users will become to hackers. We already know about the dangers of using our debit cards and have learned our own ways to protect our PIN numbers. PC Magazine says it takes less than 18 minutes for a hacker to guess a four-digit PIN number. And savant number lovers would have a field day deciphering numbers that could go straight into the heart of your checking account.

Other security experts are also concerned that users wouldn’t differentiate their Google Wallet PINs from their own bank card numbers, adding to further security problems. Additionally, only about 67 percent of smartphone users protect their devices with a passcode making it even easier for hackers and thieves to get a hold of even more information stored on phones and within apps.

If you’re curious about the new Google Wallet, make sure to take the necessary security precautions in order to protect yourself and your banking information. The new app seems trendy now, but it will be a serious nightmare if thieves start taking advantage of PIN numbers with the whole Google Wallet buzz.


Featured Articles

Top 20 essential leadership resources for Black executives

To celebrate Black History Month, here are 20 resources for Black leaders – from business books to leadership coaches to business school exec programs

Broadridge study reveals huge impact of AI on C-suite

Broadridge Financial Solutions spoke to 500 C-suite executives from across the globe, many of whom said AI was significantly changing the way they work

PwC's Kathryn Kaminsky – the role of boards on social issues

As Vice Chair Trust Solutions Co-Leader at PwC, Kathryn Kaminsky says boards play an important role in helping businesses take action on social issues

Why your business needs a Chief Transformation Officer

Leadership & Strategy

12 top AI and ML trends for the enterprise in 2023 – Dataiku

Technology & AI

From NYC to Hong Kong, the rise of the private members' club

Leadership & Strategy