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Alternative Payment Solution: Google Pay

Alternative Payment Solution: Google Pay

Summary

Google Pay is a newly unveiled mobile payment brand by tech-giant Google, launched in February 2018. Google Pay was formed as a result of a merger between its existing payment brands Google Wallet and Android Pay.

At present, the solution is available in 18 markets: the US, Australia, Belgium, Brazil, Canada, Czech Republic, Hong Kong, Ireland, Japan, New Zealand, Poland, Russia, Singapore, Slovakia, Spain, Taiwan, Ukraine, and the UK - with expansion plans to France.

The solution is accepted at millions of retail outlets globally, and supports all major payment networks, including American Express, Mastercard, Visa, and Diners Club. It is supported by more than 1,200 banks and credit unions in the US, including major banks such as American Express, Bank of America, Capital One, Chase, Citi, HSBC, UBS, and Wells Fargo. Users can store details of multiple debit, credit, and store cards on Google Pay, which can be used to make payments at merchant outlets.

In addition to in-store payments, Google Pay also allows users to make online payments, allowing users to shop at participating websites on the Google Chrome browser using an Android phone. To expand its online payment services, it partnered with Visa Checkout, allowing users to link their Visa Checkout account with Google Pay to make payments.

In addition to online payments, users can also make payments on merchant apps as well as withdraw cash at ATMs. Google Pay also allows users to make P2P fund transfers among friends and family members just by using their mobile number or email.

The report provides information and insights into alternative payment solution Google Pay including -

  • Detailed insight into its business
  • Comprehensive coverage of its products and services
  • Comparative assessment with key alternative payment solutions
  • Information on its performance, including its revenue model
  • The company's important events and milestones.
Scope
  • Google merged its payment services Google Wallet and Android Pay to launch its new payment brand Google Pay in February 2018.
  • To expand its online payment services, it partnered with Visa Checkout, allowing users to link their Visa Checkout account with Google Pay to make payments.
  • In February 2018, Google Pay launched in Slovakia.
  • The solution is supported by more than 1,200 banks and credit unions in the US and supports all major payment networks, including American Express, Mastercard, Visa, and Diners Club.
Reasons to buy
  • Gain insights into Google Pay's business operations and key events.
  • Gain insights into its product portfolio and revenue model.
  • Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.


Overview
Historic Milestones
Benchmarking
Revenue Model
Products and Services
Significant Events
Partner Banks and Financial Institutions
Partner Banks and Financial Institutions in the US
Supporting Merchants in the US
Appendix

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