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Alternative Payment Solution: Google Pay

Alternative Payment Solution: Google Pay

Summary

Google Pay was launched in February 2018. The service was formed following the merger of the tech giant’s existing Google Wallet and Android Pay payment brands.

At present, the solution is available in 25 markets: Australia, Belgium, Brazil, Canada, the Czech Republic, Denmark, Finland, Germany, Hong Kong, India, Ireland, Italy, Japan, New Zealand, Norway, Poland, Russia, Singapore, Slovakia, Spain, Sweden, Taiwan, Ukraine, the UK, and the US.

The solution is accepted at millions of retail outlets globally, and supports all of the major payment networks, including American Express, Mastercard, Visa, Discover (US only), and JCB (Japan and US only). It is supported by a host of major banks and credit unions in the US. 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, enabling users to shop at participating websites. It has partnered with Visa Checkout in order to expand its online payment services, 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 and withdraw cash at ATMs. Google Pay also allows users to make P2P fund transfers among friends and family members by using their mobile phone number, email address, or voice commands to Google’s virtual Google Assistant.

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
  • In September 2011, launched as Google Wallet, later in February 2018 rebranded as Google Pay.
  • Users can also make fund transfers using voice commands to Google’s virtual Google Assistant using Android and iOS devices.
  • In March 2018, Google rebranded Android Wear watches as Wear OS, compatible with Android and iOS devices.
  • In October 2018, Google Pay was launched in Denmark, Finland, Norway, and Sweden.
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 & 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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