Google introduces virtual payments and credit card app | Finance | Economie

Google, a subsidiary of Alphabet Inc. , It will allow consumers to store and use credit cards, event tickets and car keys in a new app called wallet, who separates from the previous Payment application.

(See: Why tech giants want to kill passwords.)

Consumers in the US and Singapore will have access to both apps and will be able to use payment for financial management and Transfer money to friends or family.

The Mountain View, California-based company said the Wallet app in 39 other markets will replace Pay.

As things are getting digital so quickly, it’s becoming very clear that it’s beyond the context of payments, so we need to give users a place for that.Bill Reddy, Google’s head of commerce, said in an interview.

Mobile driver’s licenses and car keys bypass payment use cases“, he added.

(See: “It’s not about the costs, it’s about the benefits.)

Google introduced its payment app in 2015 and revamped it at the end of 2020 As a central tool for consumers to track spending and find discounts.

The company said at the time that the app had 150 million monthly active users worldwide.

(See: Changes Google promised to make after a millionaire was fined for “cookies”).

But Google faces stiff competition from Apple company , As well as from its Android partners, such as Samsung Electronics Co. With Okay, After joining the tech giant in 2020, Google changed its approach to payment.

In October, for example, the company halted a year-long plan to launch a digital checking and savings service for the Pay app for which it had already lined up nearly a dozen banking partners.

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Google Pay is gaining some momentum in India. The company said in a statement that users will be able to use the Pay app they know.

(See: This is the portal for comparing mobile service plans and packages).

separately , Google announced a change to its Chrome browser This will allow users to convert any credit and debit card they have saved using Chrome’s autofill feature to a virtual card.

This means that they will not have to look for the additional security code on the back of their card when paying online.

Okay, who spent eight years in PayPal Holdings Inc. and some of its affiliates, that Google does not charge users for making changes to their apps.

Instead, he added, the goal is to increase the use of the company’s myriad apps and services.

We don’t need to monetize the paymentsHe said ready.We don’t charge for this, but we think it’s potentially very beneficial to the advancement of the free and open web, and we see it come back and pay off for the ecosystem.“.

Bloomberg

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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