Google Wallet, a service introduced by Google to make the transactions of a user absolutely paper-free, was introduced back in 2011. However, some carriers initially blocked it due to security concerns, only to eventually unblock it reluctantly. And although now Google Wallet is available on a number of Android devices, a number of security flaws have been uncovered in Google Wallet. The latest flaw reveals that if someone has access to your phone, that person can reset your Google Wallet and have the PIN number sent to them. This will immediately compromise the security of the service.