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Your Take: Would You Use Google Wallet?

Last week, Google unveiled [3] Google Wallet, a payment system that’s linked with your cell phone (at the moment, only one model of the Android phones). It would let you wave your card next to a reader to pay, rather than handing over cash or swiping a card. It’s supposed to launch over the summer with trials in San Francisco and New York City, with expansions to other areas and devices. The first retailers to begin accepting them will be Macy’s, Subway, Walgreens, Roys “R” Us, Bloomingdale’s and Guess.

I’m personally not concerned about the security implications because you can always fall back on the $0 liability guarantee that it will undoubtedly be offered (it’s connected to a card, which itself has that guarantee). As for convenience, I like the idea of contactless payments but I don’t know if my phone is going to be what I prefer to use. Since I’m going to be carrying my credit card anyway, I might as well use it rather than my phone. That said, while I won’t rush out to get a device that offers it, I would probably use it if it came with a phone I was otherwise going to get anyway.

The part that would concern me, but doesn’t, is Google’s continued expansion into other business areas. While they state they don’t have “access to users’ financial information or purchase history,” they will record the time and location of the purchase (and any coupons they use). They want to be at the POS so they can tie this into their local deals service, Google Offers. I’m fine with them going into different business areas but I’m always a little concerned what they do with all the data they’re collecting.

How do you feel about Google Wallet?