Google has launched the "Google Wallet" app to users preferring iOS devices. The app was previously available only to Android devices which supported NFC technology. With the new fingerprint scanner, is the iPhone 5S the most secure phone for mobile transactions?
"Google Wallet" is a payment processing app from Google. The app allows users to send money to people with a valid email address or to other users of the app. The company also offers loyalty cards on the transactions.
The newly released app does not require an NFC-enabled device. NFC or Near Field Communication technology allows a payment terminal to identify the device and the owner. The user can transfer money to a payment terminal, held a few centimetres away, via an app on the phone.
"Google Wallet" has a 24/7 fraud monitoring system. If the smartphone with the app is lost or gets stolen, the app can be remotely disabled with the "Google Wallet" account. The app also requires a four digit login pin, to unlock the app.
Users can also receive instant notification of sending or receiving money. The security features of the app have made it appealing for users wishing to carry less plastic in their wallets and go virtual. The security features coupled with the iPhone 5S make for a killer combination, according to analysts.
Apple recently launched the iPhone 5S with the "Touch ID" security feature, which helps identify and authenticate the owner. The device comes with a fingerprint scanner which facilitates the authentication.
The new security feature on the iPhone 5S has got some mixed reviews from analysts. Some see it as a waste while others are concerned about performance, but the most important concern is someone hacking the phone to get personal information.
Many Apple fans however swear by it. The innovation is seen as a step in the right direction and is getting strong backing from some sections of society. With the increasing popularity of mobile banking and mobile payment apps, analysts see the need for innovation to help make the transactions more secure.
Apple is rumoured to have the fingerprint scanner on its upcoming iPad mini 2. (Click here to see the newly leaked image of the iPad mini 2.)
Will the security features on the iPhone 5S make it an ideal device for mobile payments app like the "Google Wallet" or will the hackers win this round of the battle?
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