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Competitor Profile: Google Pay

Competitor Profile: Google Pay

Summary

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

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), Visa Electron (excluding US), PayPal, 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 prepaid 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 on participating websites. It has 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 make payments on merchant apps and withdraw cash at ATMs. Google Pay also allows users to make peer-to-peer (P2P) fund transfers among friends and family members by using their mobile phone number and e-mail address. Users can also use voice commands to make payments through Google’s virtual assistant.

The report provides information and insights into Google Pay including -

  • Detailed insight into its business and geographic presence
  • Comprehensive coverage of its products and services
  • Comparative assessment with key competitors
  • 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 March 2019, Google Pay enabled in-store payment acceptance in India in collaboration with POS provider Pine Labs, allowing Google Pay users to make offline payments in Pine Lab’s partner merchant stores.
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: Global
Partner Banks and Financial Institutions: US
Supporting Merchants in the US
Appendix

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