Google Pay - Competitor Profile

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.

Users can also 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 addition to payments, Google Pay also offers banking services on its platform in India, in collaboration with banks and financial institutions. In partnership with Equitas Small Finance Bank, it allows users to open fixed deposit accounts via the Google Pay app. It also allows users to apply for credit cards, loans, and insurance with partner banks and financial institutions within the app.

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 revenue model
• The company's important events and milestones

Scope

• In September 2011, Google Wallet launched in the US.
• In December 2016, Android Pay launched in New Zealand, Ireland, and Japan.
• In September 2020, Google Pay launched NFC-based payment feature in India for Android mobile users..
• In March 2022, Google Pay launched NFC-based UPI payments feature in India, in collaboration with payment services provider Pine Labs.

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.