Google have been having a few problems with Google Wallet and phones that have been “rooted” they have officially stated that Google Wallet is not supported on “rooted” phones and stress that rooting a phone in most cases will erase any Wallet data from the device.
Hackers have been able to break a user’s PIN to get access to a stolen/lost phone and then make use of funds available from that user’s Google prepaid card. One method requires rooting the phone but apparently access to funds can also be gained by resetting the Wallet App and then enetring a new PIN!
Google Vice President Osama Bedier has announced that Google have temporarily disabled provisioning of Google prepaid cards for Google Wallet, until a permanent fix can be found. Google report that “if someone obtains a phone without a screen lock they could possibly make unauthorized use of an existing prepaid card balance”
The VP stressed that Google Wallet is safe enough for mobile phones with it’s own PIN aswell as the phone PIN. I doubt that this will alleviate the concerns of anyone currently using the Wallet system?