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Google Wallet Rebounds After Hacking Incident

By | 02.16.12

Google Wallet Rebounds After Hacking Incident

Google Wallet is back in business after a hacking incident last week highlighted security issues with the mobile payment service. The hackers, which were able to access user PIN numbers, briefly rattled the users of the service that enables point-of-sale and online purchases via mobile phone. Google Wallet temporarily disabled a feature that allowed purchases to be made via pre-paid cards – the types of transactions that were in danger – and now the feature has been re-instated.

Google, responding to the incident, said the hacking only affected those with rooted phones and encouraged users to create a password lock screen to further protect their information. Google Wallet states it is not supported on rooted phones, removing the service from any security liability. They maintain that mobile payments are still more secure than the traditional wallet when security measures are adequately followed.

Meanwhile, PayPal responded today to a comment by Visa executive Jim McCarthy, who said there were security concerns with the online payment company’s in-store mobile payment feature. Spokesman Anuj Nayar maintained that the company’s service is safer than carrying wallet, while McCarthy said, as an example, that someone could watch a user enter their phone number and PIN during a transaction, thus gaining access to the virtual wallet.

Google Wallet is back in business after a hacking incident last week that highlighted security issues with the mobile payment service. The hackers, which were able to access user PIN numbers, briefly rattled the users of the service that enables point-of-sale and online purchases via mobile phone. Google Wallet temporarily disabled a feature that allowed purchases to be made via pre-paid cards – the types of transactions that were in danger – and now the feature has been re-instated.

Google, responding to the incident, said the hacking only affected those with rooted phones and encouraged users to create a password lock screen to further protect their information. Google Wallet states it is not supported on rooted phones, removing the service from any security liability. They maintain that mobile payments are still more secure than the traditional wallet when security measures are adequately followed.

Meanwhile, PayPal responded today to a comment by Visa executive Jim McCarthy,who said there were security concerns with the online payment company’s in-store mobile payment feature. Spokesman Anuj Nayar maintained that the company/s service is safer than carrying wallet, while McCarthy said, as an example, that someone could watch a user enter their phone number and PIN during a transaction, thus gaining access to the virtual wallet.

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