Google Wallet is a mobile payment system that allows Android-Based smartphones the ability, through near-field communication (NFC) to pay for purchases in stores.
This week, two different security researchers discovered two serious security flaws with the payment system. The first weakness pertains to the Google Wallet PIN protection system that allows access to the owner’s digital wallet in a matter of seconds using a brute force method to crack the PIN. The results of the attack will enable the attacker the ability to access key information on rooted smartphone that includes credit card numbers and transaction history.
The second flaw pertains to the ability to access the Google Prepaid Card system on a stolen, lost, or secondhand phone. Unlike the previously stated flaw dealing with the PIN, the second security flaw affects all users regardless if the smartphones has been rooted or not.
Google stated they are in the process of patching the security flaws identified in its Wallet mobile payment service and are urging consumers to set up a screen lock to secure their Android smartphone against hackers.
We also urge android-based smartphone users to enable full disk encryption on their device, to install an app such as Lookout Mobile that protects against viruses and has a GPS locater and lastly to keep the device updated with the latest software.
If you have lost or plan to sell or even give a phone away, call the Google Wallet support line toll-free at 855-492-5538 for assistance in disabling the prepaid card system.