Who is google wallet

The fast checkout works both in-app and on participating mobile sites. Google Wallet also gives merchants the ability to highlight special offers or discounts from their websites or emails directly to the shopper via the app.

Customers can also add any gift card balances to their virtual wallets, which helps drive additional sales. Google Wallet is what is known as a server-side wallet, which means that all of a user's information is stored remotely on Google's system, rather than on the user's device. Transactions take place between Google's servers and the merchant's existing payment processor. It acts somewhat like a gift card: users place a set amount of money into the wallet they can then spend as desired.

As far as the user's bank is concerned, the transaction is identical to any other debit or credit, only the transactions go exclusively through Google rather than the merchant's point of sale. Assuming the merchant's point of sale is configured to accept Google Wallet, transactions work the same as any other accepted payment method. While support for the mobile app is still sketchy, Google Wallet offers a physical card as well that can be used anyplace that accepts debit MasterCard.

How does Google Wallet stack up to other options? Google Wallet's main competitor is Apple, although other companies such as Samsung and PayPal have their own digital payment systems as well Samsung Pay and PayPal Wallet, respectively. While the products may have a few differences when it comes to the user, they offer similar features from the perspective of an online store owner.

Both want to make it as easy as possible to facilitate transactions. The main difference between the two initiatives is the companies behind them. Google pioneered NFC technology years ago, which allowed users to pay with a mobile device at a point of sale using a secure, short-range signal. However, the technology was not widely adopted at the time, which put Google on the back foot, giving Apple an opening to push their Apple Pay model. Apple, having an established and loyal user base, was able to roll out its system a great deal more effectively, coupling it with specific technology offerings, such as the Apple Watch.

Seeing an opportunity to partner with the high-prestige Apple brand, retailers and banks have been a great deal more eager to adopt the technology now. Google, however, is retooling its wallet to take advantage of their more flexible and open system. Unlike Apple, Google is allowing other developers access to its API in hopes that other companies will create innovative new ways to use the technology.

With 80 percent of global market share for the Android platform , payment processors and merchants have good reason to support Google's initiatives. You can basically use the service to speed through checkout at sites all over the Web, as well as for some other non-NFC uses that we'll discuss shortly.

Once you have downloaded the app or signed up online, you can set up Wallet with your credit cards, gift cards, loyalty cards and more so you'll have the option to pay with whatever source you choose. Of course, to use Wallet at all, you need to find stores that actually have the equipment to read the NFC chip in your phone. Google anticipated this infrastructure problem. Rather than build a proprietary network of terminals, the company made Wallet compatible with MasterCard's PayPass system, which is already available at around , locations in the U.

Quick, painless payments are only one component of Google Wallet. On the next page, you'll discover Google's ultimate plan: to totally replace your analog leather wallet perhaps to the great relief of cows everywhere. Sign up for our Newsletter! Mobile Newsletter banner close. Mobile Newsletter chat close. Mobile Newsletter chat dots. Mobile Newsletter chat avatar. There has been no announcements whether this may change in the future.

Understandably, given the difficulties involved in implementing and using this new payment method, we wont see this globally yet. In addition, some countries are limited by the low availability of equipment that NFC requires. We will keep you updated with the latest news, and inform you if there is any sign of this developing in the UK.

Perhaps Google will surprise us. Who knows. We will have to wait and see! Google Wallet: What, How, and Where? What is Google Wallet? How It Works.

Tom Dicson. Google Play Vs App Store. News Technologies Design Business Development. I agree to the personal data processing. Do you agree to the personal data processing? Please, confirm your permission for the personal data processing.