It’s no secret that accepting more payment methods will help you reach more customers – but what about Google Pay? This digital wallet is growing in popularity and giving its competitors a run for their money. It allows people to make payments online and in person using the Google Pay app, creating a seamless experience for both customers and merchants.
If you’re thinking about accepting Google Pay, there are several benefits – and a few downsides – to be aware of. You should also know that adding it to your list of supported payment methods is simpler than you might think. Below we’ll tell you not only why it’s worth your time, but also how your business can start accepting Google Pay as easily as possible.
What Is Google Pay and Who Uses It?
Google Pay is much more than a digital wallet; it’s an innovative payment platform that includes all kinds of useful features. That said, its main purpose is to make payments quicker, safer, and easier for both buyers and sellers. It’s completely free, highly secure, and available to anyone with a smartphone – all they have to do is use the Google Pay app.
Google Pay comes preinstalled on most Android phones, and is available in the App Store for iOS devices.
After setting up the app, the user can connect multiple credit and debit cards to it. This puts all of their payment methods in one place, and links them to the user’s Google account. They can then make purchases online, through other apps, or in stores using only the Google Pay app. Their payment details are tokenized to protect sensitive data and prevent fraud.
Google Pay originally launched in India, and it’s still especially popular there. Today it’s available in more than 70 countries, with a high number of users in the US, the UK, and Australia. Its global reach is likely to expand as the shift toward digital wallets accelerates.
The Benefits of Google Pay for Your Business
Google Pay offers plenty of benefits for the people making purchases, but what about the ones accepting payments? There are several advantages on that side of the screen as well.
Accepting Google Pay means your customers can use it to pay either online or in person. It also gives them multiple options for how to pay; they can use the app, a phone number, or a QR code. This makes the whole process much smoother and more flexible on their end, which removes many of the barriers that could stop them from completing a purchase.
No matter what payment methods you offer, it’s essential to have a complete and accurate record of every transaction. Google Pay tracks payments for you, so all the information you need is easily accessible. And finally, it’s incredibly secure. Google Pay has built-in safety measures to make sure you never have to worry about privacy breaches or fraud.
The Disadvantages of Google Pay
Despite all the benefits mentioned above, there are a few things to keep in mind when it comes to accepting Google Pay. Since it’s still an up-and-coming payment method, it’s not as widely used or supported as some alternatives. On top of that, some banks don’t accept Google Pay yet. Make sure to confirm that you’ll be able to link it to your bank account.
Another potential problem is that transactions made through Google Pay aren’t always instant. The time it takes to receive a payment depends on how the customer sends it; if they pay through a bank account, it’ll take 3–5 days to be processed. This has more to do with the bank than with Google Pay itself, but it’s good to know.
As Google Pay becomes more popular, it’s likely that more banks will start supporting it. And although you might experience delays if a customer pays with their bank account, if they pay via card or their Google Pay balance, you’ll usually get the money either instantly or within a few hours. For most businesses, the benefits of Google Pay far outweigh these issues.
Pay.com can also help you avoid any potential problems. If you use it as your payment service provider, you’ll be able to accept Google Pay automatically – regardless of your bank’s policies. Click here to find out how you can get started!
Google Pay vs. Apple Pay
Google Pay’s main competitor is Apple Pay, which offers many of the same advantages and features. The most obvious difference between them is that Apple Pay is targeted at iOS users, while Google Pay is targeted at Android users. But it’s not quite that simple.
It’s important to note that while Apple Pay is only available to users who have iPhones and other Apple devices, Google Pay offers apps for both Android and iOS. In other words, it doesn’t discriminate based on brand. Any customer can use it, no matter what type of device they have.
At the moment Apple Pay is more widely used than Google Pay, but this depends on the region – and of course it’s subject to change. The best way to cater to all customers is to accept payments through both Apple Pay and Google Pay. And the easiest way to integrate both of these digital wallets into your payment system is by using Pay.com.
How to Accept Google Pay and Other Payment Methods
Accepting several different payment methods – including digital wallets like Google Pay – doesn’t have to be complicated. You can use Pay.com to manage all of your customers’ payments in one place, and easily add new payment methods at any point. To add Google Pay as an option on your checkout page, all you have to do is select it on your Pay Dashboard.
Beyond supporting several payment methods, Pay.com provides in-depth insights and analysis to help you make more informed decisions. It’s also highly secure, with Level 1 PCI DSS compliance and support for 3DS2 authentication. Getting started with Pay.com is quick and easy, so you can take your business to the next level without wasting any time.
The Bottom Line
The benefits of Google Pay are clear – not only for you, but also for your customers. Before you add it as a payment method, you should understand its purpose, functions, and potential issues. But for most businesses, there’s no good reason not to accept Google Pay.
As the world shifts further online, it’s increasingly important for companies to support digital wallets like this one. Pay.com makes it simple to accept payments from Google Pay and other digital wallets, as well as traditional payment methods – so you can cover all the bases.