If you recall, we gave you the heads up about two methods of exploits in Google Wallet.  Have no fear, for since that article was posted Google has taken steps to ensure that these leaks are taken care of.  Unfortunately, this means a temporary freeze on pre-paid cards, but they will be available once again in the future.  In the mean time, the Google IT team has been hard at work maintaining consumer protection, so you can rest assured that they have your back when it comes to your money.

"In the wake of two security flaws reported in its Google (Nasdaq: GOOG) Wallet mobile payment system last week, Google has clamped down on the system and is scrambling to come up with a fix.

One of the two flaws affects only rooted devices.

But it's the second that troubles Google more. That flaw lets anyone operating the victim's phone gain access to the victim's prepaid card in Google Wallet simply by going into the device's applications settings folder, clearing the data for the mobile payment service and setting up a new PIN.

'On Friday, we disabled the ability to provision cards,' Google spokesperson Sierra Lovelace told TechNewsWorld. "A permanent fix will be rolled out soon."

Google's restriction on provisioning prepaid cards will only impact new cards and refills, the company's Lovelace pointed out. 'If you had already provisioned the prepaid cards, you can use them as usual,' she said."

Source: Tech News World