NEW YORK (Credit.com) — While Google Wallet has been available for about a year now, many consumers may have been slow to adopt the near-field communications payment technology for several reasons. One issue is that it simply isn’t accepted in most places, but the company has developed a way around that.
Google will soon begin issuing its own Wallet-related card, according to an anonymous tipster who leaked updates on the Google Wallet app to tech site Android Police. The new card will reportedly use the platform’s technology in new ways to allow its users the ability to make traditional credit card purchases using accounts already associated with the program. The Google Wallet card will work just like any other debit or credit card, as it comes with a magnetic strip users will swipe to complete transactions, the tipster told the site.
But what makes this card different from others is that it is not associated with any one card account, but rather the Wallet account itself, the report said. Whatever a user lists as the default card on their Google Wallet app is the one that will be charged when it’s swiped. For instance, you may be able to make a debit purchase on one account, then go into the app, change the default card to a rewards credit card, and make a purchase at your next stop using that one. The Wallet card is reported to be accepted anywhere major credit cards are.
Google is using the updated app to roll out other services as well, the report said. For instance, it will allow users to carry a “Wallet Balance” that essentially works like a PayPal account. Users can add to and subtract from their balance any time, including by making person-to-person transfers.