BankTech

Google Updates its Wallet App to add more Useful Features

Google is expanding the capabilities of the Wallet app to portray it not just as a mobile payment tool but is a prominent rival to competitors. Even with iPhone users now having Apple Pay, Android phone users have had Google Wallet using NFC tap-to-pay mobile payment technology. In an official blog post, Google announced that it has added two crucial features to its Wallet app.

The two new Google Wallet features are:

Add Money Automatically

Now you can add money to your Wallet balance automatically using recurring bank transfers. This feature will provide secure and rapid access to money and that too with no additional Google Wallet fee. One can schedule the recurring transfer from the bank account to the Wallet balance. Simply specify the amount to be transferred and the schedule can be set on weekly, bi-weekly or monthly basis. The transfers can also be cancelled before the scheduled time.

Currently, there are no fees or minimum balance requirements for the Google Wallet balance. In the official blog post, Google also claims that Wallet Balance is backed by 24/7 fraud monitoring and the Google Wallet Fraud Protection Guarantee.

The following illustration highlights the money transfer feature:

Ray

Ray has keen interest in the area of devices, OS and wireless technologies. He is a Mobile Technology enthusiast and believes that Mobility is going to completely change the way we do Payments and Commerce. He wishes to share this belief with the world by providing such content through LetsTalkPayments. Ray has done his engineering as well as MBA.

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