Google Wallet is coming to a smartphone near you. The mobile payment app will be supported by an additional 10 Sprint/Nextel phones by the end of this year, according to Google Wallet and Payments VP Osama Bedier. He also said that Google was in talks with other financial entities and manufactures concerning furthering the scope of the Google Wallet app.
Google Wallet and other mobile payment apps use Near Field Communications (NFC) to relay payment information. According to a report over at FierceMobileContent.com, AT&T, T-Mobile and Verizon are working on an alternative solution called Isis. PayPal has also been expanding a mobile app payment system and a system using just a phone number and PIN that we last reported on here.
Google Wallet did get some bad press lately, when a security flaw was discovered that allowed whoever was in possession of the phone (whether it was the actual owner or not) to reset the PIN and access funds. If the phone was lost or stolen, the PIN could be reset. The problem has since been fixed and Google says they are not aware of any actual incidents of the issue being exploited.