Why are merchants excited about Google Wallet?

Wow, that is really irritating load of hype.

Loads of garbage about how "fantastic" and "amazing" and "incredible" it is going to be. Almost nothing about what it is or how it works, other that a mobile phone is involved.

Sadly, I can well believe that it, or something like it will catch on.

We have not changed the way we pay, we have added to the number of ways. We still have coins, notes AND plastic.

We have added to the ways of being defrauded at each stage too. Will Google Wallet give the thieves and scammers even more ways of stealing our money.

Sorry if this is a bit negative, but that advert annoys me so much, it makes me feel even grumpier than I am normally 😁

The again, maybe it will turn out to be the best thing ever. Only time will tell.

So we will be having one more way to spend our money without realizing how lavishly we are doing so. Such things are increasing our spending capacity and nothing else.😡
When we spend through coins or paper notes, we keep a note that how much money we've already spent and how much is left. This gives us an immediate alarm when to stop.
I'm sorry if I sound like a orthodox miser 😔 but this is what I personally believe.

Traders will definitely be happy with it but I wonder how will it affect the overall economy of a country, especially a country like India where there is already a large gap between the rich and the poor.. 😕

Hmm...

As of now, very little is known about how exactly this works and more importantly, what are the measures taken to ensure such a technology is secure..
I mean, if contact technologies like credit and debit cards are not foolproof, and if they are vulnerable to many types of attacks, how vulnerable is this going to be, provided it uses near field wireless communication?
As we know, wireless technologies are often more vulnerable and ensuring security is not very easy.

So, I think we'll have to wait and see how it turns out and whether it actually keeps its promises..

Deepika Bansal

I wonder how will it affect the overall economy of a country, especially a country like India where there is already a large gap between the rich and the poor.. 😕

Even if this is implemented immediately, at least in India, I think it will take a while to be used. And what's with the rich and the poor? The poor are not going to use it anyway, and the rich will find a way to use it even though it's not absolutely necessary..