Google Wallet vs Apple Pay. In an age of digital transactions, you probably have multiple mobile payment systems that you can choose from, but you may be wondering what the difference is between Google Pay versus Apple Pay. When it comes to handling your digital money, you want to ensure that the mobile payment company you are using can be trusted. These transaction technologies are all designed to move away from the physical wallet and allow you to use your devices to pay instead of a card. In this article, we will dig into the difference between Google Pay and Apple Pay so you have a better understanding of how you can pay with your phone as a consumer and handle cashless, online transactions as an eCommerce business.
Rise of Mobile Payment Systems
Merchants from every size and industry are embracing mobile payments. That’s because they present many benefits. For example, you can accept or make payments wherever you are. Not to mention, they improve the customer experience. From both a consumer standpoint and a business perspective, mobile payment systems present many benefits.
According to a WorldPay study, the use of mobile wallets have become more popular over the years. The percentage of eWallet usage on eCommerce platforms is 36 percent, and that percentage is rising every year. For example, there were 232 million smartphones in use out in the United States in 2016. Of those 232 million smartphones, 16.5 percent were used to make a contactless payment that year. That number rose to 20 percent in 2018.
The shift away from physical cash, credit cards, and debit cards is increasing as smartphone technology becomes more advanced and developed. That’s why it’s an important practice for every e-commerce site to use these systems. Using an eWallet payment system can be extremely convenient for consumers as online shopping becomes more prevalent. Merchants can capitalize on the rise of mobile payment systems in their online stores and physical shops to create a better shopping experience for consumers.
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Apple Pay made its debut in 2014 with the iPhone 6 and 6 Plus in 2014. The contactless payment technology is now available on newer Apple devices, from iPhones and iPads to Apple Watch and Mac laptops. On later versions of the iPhone and iPad, Apple Pay also came pre-integrated on those devices.
Apple Pay is available in over 40 countries. Over 75 percent of stores and restaurants in the US, over 85 percent in the UK, and 99 percent in Australia support Apple Pay. This makes Apple Pay a popular method of payment worldwide. Many different types of apps support Apple Pay, from shopping apps, travel apps, entertainment apps, and service apps. A few of the popular apps that support Apple Pay include Starbucks, Uber, Zara, Stubhub, and Deliveroo. Users can also make payments to Apple services such as iTunes and the Apple App Store.
Part of Apple Pay’s initial success was the fact that Apple established merchant relationships before introducing its new service. As a result, Apple was able to pave the way for faster and wider consumer-side adoption by bringing more retailers on board from the start.
Google’s digital wallet system has undergone several name changes and redesigns. You may be confused what the difference is between Google Wallet vs. Android Pay vs. Google Pay. So, let’s break down the history of these different names for you.
Google Wallet launched in 2011 as Google’s original peer-to-peer payment system for sending and receiving money. The Google Wallet allowed users to send money to friends and family and allowed users to shop in stores.
Google later responded to the success of Apple Pay by releasing Android Pay. This new service used NFC (Near Field Communication) technology, which Apple Pay also uses. Android Pay was also automatically integrated in all later Android devices so users didn’t have to download the app.
However, now Google had both Google Wallet and Android Pay. This made things complicated from a branding perspective and from the user end as well. Google Wallet was mostly used for peer-to-peer payments, while Android Pay was used for online and retail shopping.
In 2018, the services merged, and Google Wallet and Android Pay are now both part of Google Pay. This new unified, cross-platform payments service is combined in the Google Pay app and works on any device, browser, and operating system. The Google Pay app is sorted into two halves with a Home and Cards tab. The Home tab displays your recent payment activity and shows local offers and nearby stores that accept Google Pay. On the Cards tab, you can find your individual credit, debit, reward, and gift cards that are stored on the app.
Google Pay Send has replaced the Google Wallet service and is now a feature included inside Google Pay. Just like users did with Google Wallet, they can send and receive money with Google Pay. They can also make in-store purchases using their mobile devices or shop online, just as they did with Android Pay. By combining the two systems under one app, Google helped eliminate confusion and moved toward a universal payment option.
Google Pay is accepted at millions of locations around the world. Popular merchants and websites and apps all accept Google Pay, such as McDonalds, Trader Joe’s, Nike, Airbnb, Doordash, and Kayak.
Google Pay vs. Apple Pay
The main and obvious difference between Google Pay and Apple Pay is the type of device you have to use for either mobile payment system. Apple Pay only works on devices with iOS software. Google Pay is for consumers with an Android device. Read on to learn about some more differences between Apple Pay and Google Pay.
Both Google Pay and Apple Pay can be used for online purchases straight from an app or a website. The systems, which automatically handle the entire checkout process to allow contactless payment, only require PIN or Touch ID verification to complete the transaction. They both use NFC technology but implement it in different ways. Apple uses its Touch ID technology for authentication. Because Apple Pay is touch-activated, you don’t have to wake up your display, open an app, enter a PIN, and navigate to a card or coupon. You simply hold your iPhone or other device near the contactless reader. On the other hand, Google uses a more traditional PIN based authentication system. This difference in verification makes Apple’s system a little bit easier to use. It can be a lot harder to commit fraud if a fingerprint is needed rather than a pin.
Another difference between Google Pay and Apple Pay is how each system protects the credit or debit card information from the vendor. The card’s information is only provided once during the initial setup for both Wallet and Pay. Google saves your card details on their servers and then issues a virtual card, the Google Wallet Virtual Card, to your device. So, when you are paying through Google Wallet, the device only transmits the virtual card so that the vendor never sees your actual card information.
After a business charges the virtual card, Google then charges your stored debit or credit card, being the only entity that ever sees your real card through this transaction. Your real card is protected throughout the entire transaction by Google’s secure servers. Google remains the only entity in the process that sees your real card whenever you make a purchase through Google Pay.
On the other hand, Apple uses a different system known as Tokenization. With Tokenization, you provide your card details to the device when setting up. When this happens, your device contacts the bank directly and receives a confirmation. Upon confirmation, your device and card receive a specific token known as the Device Account Number (DAN), which is stored on a secure chip on your device. Similar to a credit card number, the DAN is the information that is passed on to the seller when a transaction is made. It is then authorized with the bank as it would with a credit or debit card.
Apple Pay has a secure and seamless user experience thanks to its TouchID capabilities. With one touch, you can authenticate, verify, and make payments. Throughout the sale purchase process, iPhones will recognize and authenticate you based on your fingerprint. If there is a contactless reader, you simply place your finger on the Touch ID sensor with your iPhone near the reader to make your payment. This difference between Apple Pay and Google Pay is a pretty big advantage for Apple users.
Google Wallet vs Apple Pay
Apple Pay and Google Pay are both widely-used mobile payment systems. However, there are a few differences between Google Pay and Apple Pay that separate the two. Integrating eCommerce on your website and ensuring Apple Pay and Google Pay can be used on it can tremendously help boost sales.