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Re:Google Wallet leak shows off new physical credit cards by cbhl on Friday November 02, 2012 @01:32AM (#4731379)
The former. If you use the Google Wallet app on the phone, it almost always shows up as the proxy MasterCard now.

This has ramifications for rewards programs: http://support.google.com/wallet/bin/answer.py?hl=en&top...

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