Good news isn’t it? You can now sleep in peace knowing that your funds on the internet are insured. Google demonstrated this kind of security over internet funds, compared to Paypal and Venmo certainly if these two money processor’s all washed up, your existing funds will go all together good bye money forever.
This matter will no longer be an issue with Google Wallet since Google is now holding your Wallet funds with the FDIC insurance, this could mean that your funds are safer.
Although, Paypal has fraud protection but when this company goes bankrupt you need to undergo certain process in the court to get your money back that makes Google different despite the fact that it is unlikely that the giant search company will go bankrupt but because your money is insured that could mean that you will no longer undergo hassle procedure in the court to get your own money back.