Google Pay replacing Android Pay, Google Wallet

Alphabet Inc., d.b.a. Google LLC, disclosed Feb. 20, 2018, that the Google Pay mobile app is nearing completion. The newly branded Google Pay mobile platform will absorb the Android Pay and Google Wallet brands, broadening and consolidating their capabilities, according to company representatives. The legacy mobile apps were part of the company’s iterative journey dating back to 2011, when Google partnered with Sprint to launch Google Wallet on near field communication (NFC)-enabled Nexus S 4G phones and Google's subsequent carrier-agnostic launch of Android Pay in 2015.

Google representatives said the new Google Pay app will replace Android Pay on Android phones. Consumers may notice subtle differences in the user interface, which is designed to display credit, debit and loyalty cards in a scrolling menu below the default payment card. An optional geolocation feature displays nearby stores that accept NFC payments.

Built to scale

Google Pay is accepted at numerous retail locations, including McDonalds, Dunkin Donuts, Whole Foods, Trader Joe’s, American Eagle Outfitters, Best Buy and the Disney Store, according to Google’s website. The mobile app is also widely supported by leading financial institutions such as Chase, Capital One, Citi and Bank of America.

Google noted the Google Pay platform is designed for a global merchant and consumer base, and that enhanced security and a simplified checkout experience can improve conversions and reduce shopping cart abandonment by enabling customers to pay in-store, online and within the app with four taps, compared with an average of 120 taps on traditional POS systems. “Your customers already use our products,” the website states. “Now they can use them to pay you.”

A growing number of payment processors and acquirers have certified the Google Pay app and support the Google Pay application programming interface. Current processing partners include Adyen, Braintree, EBANX, Paysafe, Stripe, Vantiv and Worldpay. Google revealed additional partnerships with ACI Worldwide, Cybersource, First Data Corp., Payture and Square are currently in development.

Google reported its global installed base comprises approximately 1 billion Google Chrome users and 2 billion Android device users. These users represent a captive audience for Google Pay, which the company describes as free to use and easy to set up, using only 10 lines of code. The app enables customers to access stored credit or debit cards, stay in control, and securely maintain their preferred payment methods, the company stated.