Would you trust Google with your wallet?

Would you trust Google with your wallet?

Summary: Consumers don't trust Google Wallet for mobile payments, according to a survey. But they may not trust anyone else, either.

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Google has thrown in with near field communication (NFC) mobile payments in a big way, as evidenced by itsAndroid manufacturer partnerships and the test run of the Google Wallet app. But while Google may be buying into NFC in a big way, consumers may not be loving the idea of the Goog having that much control over their virtual wallets.

This idea is suggested by a study conducted into mobile shopping habits by Ogilvy & Mather, which was reported in turn by Ad Age.

The research firm asked 500 online survey takers "Who do you trust with mobile payments?" and gave a list of eleven providers that could be chosen without limit. The traditional credit card companies (Visa, MasterCard, American Express, even PayPal) dominated the list, with Google all the way down at number eight.

Just under twenty percent of respondents said that Google had their trust in this arena. For comparison, Visa topped the list with forty percent or so, while Facebook took the bottom with twelve percent. Apple was the leading consumer technology company on the chart, beating Google with a 23% trust rating. And above Apple was the United States Postal Service, at 25%.

It really strikes me as odd that not a single company listed scored above that forty percent mark. Is there really no single company that customers trust with their mobile device transactions?

An obvious solution is for Google to partner up with more trusted companies and reap the combined boost in reputation. And in fact, Google Wallet is already provided in partnership with both Citibank and MasterCard, even during the current limited trial.

Meanwhile, Visa is throwing its weight around to bolster the overall NFC infrastructure here in the United States, which can only help perception of mobile payment providers across the board.

But at the end of the day, there are really only two questions to ask. First, do you trust Google with your mobile payments? And second, do you trust mobile payments at all?

Topics: Enterprise Software, Banking, Google, Mobility

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34 comments
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  • No!

    No way. I've learned not to trust this spooky corporation.
    Tim Acheson
    • RE: Would you trust Google with your wallet?

      @Tim Acheson
      With genuine curiosity, what was your process of and experiences of learning?
      And spooky is an interesting word. Is it used by you specifically for Google or do you use it for, say, Facebook too?
      freetulisten
      • RE: Would you trust Google with your wallet?

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        3shao
    • RE: Would you trust Google with your wallet?

      @Tim Acheson

      Agreed. They already know what you search for and every page you visit. After you do your search and conduct your research from the results, do you really need them knowing how that results in spending? Don't they have enough information about you already?

      Think about a guy who searches Google for information about a serious health condition, and then visits web sites based on those search results. He then goes to the doctor and pays with Google, and buys prescriptions and pays for them with Google. Behind every step of this process is a company who won't disclose what information they store, or for how long, or what they do with it. Spooky? You bet.
      1DaveN
    • RE: Would you trust Google with your wallet?

      Pff yeah right! I got an email from google419 asking me to help "move some money" and after i replied with my bank numbers, SS# and all of my cards, they never even got back to me! I wont make that mistake a third time!
      googleisevil69
  • RE: Would you trust Google with your wallet?

    I don't even trust my wife with my wallet.
    Alan Smithie
  • RE: Would you trust Google with your wallet?

    Google in my wallet? Duh !
    owlnet
    • RE: Would you trust Google with your wallet?

      Google has officially crossed the creep line when I open my wallet to find ads "tailored to me"
      keitha73-23430377852780425463534611145075
  • Yes, I'd trust Google with my digital wallet

    Since it would probably be my credit cards and/or debit cards, which have protection of their own, it's not a big deal. Most of us trust Google already with our email which often has more information available in it which could provide someone malicious to do bad things. I find it funny that many of the people that won't like the idea of a Digital Wallet have no problem checking their bank accounts from a public computer or they don't protect their own computer well enough and are already providing hackers access to their accounts. People have a false-sense of security. This is just as unsafe as anything else. Or as secure as anything else. It's up to you.
    mobilejray
    • RE: Would you trust Google with your wallet?

      @mobilejray Most of us trust Google with our email? I think that's a pretty big stretch. Of all my contacts (business and personal) there are only 4 Gmail accounts, well under 1%. Of course those are only my results but I would suspect the most is not even remotely accurate.
      non-biased
  • RE: Would you trust Google with your wallet?

    I think it has less to do with trust of a provider and more to do with lack of trust in the medium itself. It doesn't help that they don't see the advantage over a credit card and that a credit card feels more safe...and it's not exactly an inconvenience either.
    Aerowind
    • RE: Would you trust Google with your wallet?

      @Aerowind [i]I think it has less to do with trust of a provider and more to do with lack of trust in the medium itself.[/i]
      Probably a very accurate assessment.
      non-biased
  • RE: Would you trust Google with your wallet?

    No, I don't trust Google with any of my information much less my financials. I'm not sure if I even trust NFC. Give me some guarantees in case my info is stolen.
    LoverockDavidson
  • RE: Would you trust Google with your wallet?

    HELL NO!!! They would try to fine a way to make the contents and all transactions publicly searchable so they can profit from it.
    rmark@...
  • Wallet

    I wouldn't trust them with my real name!
    wizardb@...
    • RE: Would you trust Google with your wallet?

      @wizardb@...

      good point
      bb_apptix
  • RE: Would you trust Google with your wallet?

    Are you kidding me? I don't trust Google for anything.
    bb_apptix
  • RE: Would you trust Google with your wallet?

    Are you kidding???? I BARELY trust my BANK....
    Tholian_53
  • RE: Would you trust Google with your wallet?

    No way. Any time I see that a product is sold through a Google shopping cart, I immediately exit the product.
    dragonflynda
    • RE: Would you trust Google with your wallet?

      @dragonflynda

      Me, too.
      lippidp