payments

Google has patched a hole in Google Wallet that could've allowed someone to access a user's funds simply by resetting the PIN and using a prepaid card.

The company said yesterday it has issued a fix that now prevents a prepaid card from being re-provisioned to another person. It has also restored the ability to issue new prepaid cards following a move on Monday to disable the use of such cards.

Osama Bedier, vice president of Google Wallet and Payments, said that he wasn't aware of any actual incidents of people abusing the prepaid cards or Wallet … Read more

Most companies would be happy with 1,000 percent growth in one 12-month period. At the online payments company WePay, they're shooting for back-to-back years like that.

Late this evening, WePay released a set of statistics showing that it had a very good 2011. Among the most notable figures was that the Palo Alto, Calif., company hit the 1,000 percent growth mark in revenue, users, and total payment volume.

And according to co-founder and COO Rich Aberman, WePay believes it can hit those same milestones in 2012.

That the company feels so bullish should come as no surprise. … Read more

Voters chat with Obama on Google+ Hangouts, Apple surpasses Hewlett-Packard in PC shipments (if you count iPads, that is), and almost everyone would take your call while on the toilet.

Links from Tuesday's episode of Loaded:

T-Mobile is getting into the mobile payments business with the help of Square.

The carrier announced today that its small-business customers will be able to get the Square credit card reader at select T-Mobile stores. When the reader is connected to a supported smartphone, the device allows business owners to swipe customer cards and have the money from the transactions automatically deposited into their bank accounts the next business day.

T-Mobile has become the first carrier to offer the increasingly popular mobile payment reader, but unfortunately for the carrier's customers, Square's technology will only be available in a handful of stores … Read more

If you follow any of my coverage, then you know I have a healthy interest in mobile payments.

When people think mobile payments, they think about the act of paying for goods by waving a smartphone at the cash register. But I'm more interested in the implications that come from the capability. You're seeing it now with the introduction of Google Wallet, which wants to use payment history to better serve discounts and advertisements. It's what comes next that is so exciting.

But as we're seeing with Google Wallet, as well as other attempts to bring … Read more

Google Wallet does a good job of storing passwords but doesn't encrypt the entire credit card number, balance, and other information, a research firm said today after testing the application on a rooted device.

Data that is stored on the device in various SQLite databases in unencrypted form also includes name on the card, the last four digits of the credit card, card limit, expiration date, transaction dates, and locations, ViaForensics said in a report titled "Forensic security analysis of Google Wallet."

In addition, the application created a recoverable image of a credit card that could provide … Read more

Verizon Wireless denied claims that it was blocking the Google Wallet mobile payment application on the upcoming Galaxy Nexus.

"Recent reports that Verizon is blocking Google Wallet on our devices are false," the company said in a statement today. "Verizon does not block applications."

Google Wallet, unlike other applications, needs to be integrated into a secure part of the phone that is proprietary to Verizon, the carrier said. As a result, Verizon and Google are still in commercial talks over the issue.

The issue is a rare instance in which Verizon and Google haven't been … Read more

Shopkick, a mobile check-in and rewards app, and Visa are hoping consumers are in a holiday-shopping mood.

The two companies announced a partnership today to offer a faster way for consumers to earn "kicks"--Shopkick's version of rewards--which can be redeemed for gift cards, gadgets, and other goodies. Shopkick works when a user walks into a retail partner: enter the store and get your kicks. With the new offer, users get additional kicks when they purchase their goods using a linked Visa credit or debit card.

Shopkick gets a major partner in Visa and offers its customers … Read more

"Carry less + live more" is how the RumbaTime Go might be marketed if it gets off the ground.

This standard digital watch comes with a contactless payment chip on the back so you can ditch your wallet. It also has a medical ID number in case you end up on the ground yourself.

It's now a Kickstarter project by RumbaTime, which makes low-cost timepieces that recall the Swatch craze of the 1980s. … Read more