Competitor Profile: Google Pay

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 the 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 allows consumers to make online payments, enabling users to shop on participating websites. In India, users can also make payments for electricity, gas, water, mobile postpaid bills, and mobile recharges using Google Pay.

In addition, users can 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 and email address. And users can 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
• 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 2019, Google Pay launched fingerprint and facial recognition security features to unlock and protect online transactions made within the Google Pay app.

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.