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Google Pay - Competitor Profile

August 2020 | 21 pages | ID: G786ACD3E73EEN
GlobalData

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Google Pay - Competitor Profile

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. In July 2020, Google Pay partnered with pay-later solutions provider Afterpay. Under this new agreement, Afterpay customers can buy items in retail stores using the Afterpay app by tapping their Android phone at the POS terminal. Just like using Afterpay online, customers can pay for their in-store purchases in four installment payments, without the need to pay upfront fees or interest.
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, Google Wallet launches in the US.
  • In September 2015, Android Pay, an extension to Google Wallet, launches in the US.
  • In February 2018, Google merges its Google Wallet and Android Pay payment services to launch Google Pay, and the Google Wallet app is rebranded as Google Pay Send.
  • In May 2020, Google Pay partnered with Worldpay from FIS, enabling online merchants using Worldpay’s hosted payment pages to add Google Pay as a one-click checkout option for payments.
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
Benchmarking
Revenue Model
Products & Services
Significant Events
Partner Banks & Financial Institutions: Global
Partner Banks & Financial Institutions: US
Supporting Merchants in the US
Appendix

COMPANIES MENTIONED

Google Pay
Apple Pay
Samsung Pay
Alipay
Tenpay
Google
PayPal
American Express
Mastercard
Visa
Discover
JCB


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