I talk to American Banker about how Google Glass could be used in payments.
For banks, certain Glass apps have obivous appeal, says Rakesh Agrawal, principal analyst at product strategy consulting company reDesign Mobile. Two possibilities: fraud prevention and detection and real-time transaction alerts.
Agrawal says the app submission process could be a boon for banks. “I would consider that to be a good thing,” he says. “You don’t want phishers. If they [Google executives] weren’t checking submissions, it would be possible for someone to submit a bogus Bank of America app just to get people’s passwords.”