Everyone is heard or used Google, the search engine that has become an entity of its own, defining a whole new generation of internet users. Google Pay is just a step forward for Google. In essence, Google Pay is a digital wallet and a payment platform, much like Skrill or Neteller. It is available to Android users, and some websites support it. Yet, not many brokers offer Google Pay, since it has yet to surpass the popularity of the aforementioned alternative payment methods plus other giants like PayPal and Western Union.
Users who wish to use this alternative method must link their Credit/Debit card to their Google Pay account. From there on, they can make online purchases.
The service works with a plethora of major banks and payment providers including Visa, MasterCard, Discovery and American Express. Many local banks are also included on this list, with their compatibility being able to be checked on the Google Pay website.
Once a transaction is registered, a unique code is encrypted number is produced instead of a user’s card details.
Google Pay Send is a payment function allowing for peer-to-peer money transfers. Users can send money to receivers by providing their phone number or email. The receiver must link the number or email address to a bank account.
The distinguishing aspect of Google Pay is its integration with Google services. For example, users can easily send money through Android Messenger and Gmail.
Google pay charges a 2.9% fee on Credit Card transactions, while debit card transfers are free. Furthermore,there are no fees for making a bank transfers. The maximum amount of money that one can transfer via Google Pay is $9 999.