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Verizon Wireless Blocks Google Wallet, Citing Security Concerns

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Bloomberg BusinessWeek: Verizon Wireless will not support the Google Wallet mobile payment system on new Samsung Galaxy Nexus smartphones. Verizon's Jeffrey Nelson said that the company wants users to have “the best security and user experience,” and that it will support Google Wallet “when those goals are achieved.”

Verizon plans to invest more than $100 million in a joint venture with AT&T and T-Mobile that will create an alternative to Google Wallet called Isis.

The Galaxy Nexus smartphone will hit store shelves later this month.

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