Google pay is a mobile wallet that lets you make cashless payments at shops, restaurants, and other merchants. It also lets you use your account for bill payments and mobile recharges.
You can accept Google Pay at your business by integrating it with a payment gateway, such as Shopify or BigCommerce. This makes it easier for customers to purchase your products and reduces cart abandonment and conversions.
1. It is a way of making revenue for Google
Google’s pay business is one of the many ways in which Google makes money. It enables merchants to accept easy mobile payments for goods and services.
In addition, Google pay can help businesses reduce cart abandonment, keep transactions secure, and reach more customers. It can also help them retain repeat customers by providing a simple, seamless payment option.
When customers use Google pay to make purchases, it automatically updates their account information and expiration dates, and can also be used to store CVC codes or card numbers. This reduces the need for customers to enter their card details every time they make a purchase.
Users can also earn money from Google pay by paying for bills such as electricity, water, DTH recharge, insurance, loan repayment, and mobile bill payments. Whenever someone pays for these services, they receive a commission from the company.
2. It is a way of growing its base
The company has been a pioneer in the mobile payment space. Its patented payment system is secure and has a host of functionalities that are not just fun to use, but make life easier for business owners in the process.
The best part is, the company is constantly improving its products in a bid to stay ahead of the curve. The company has recently launched a smartwatch and is working on an AI-driven payment solution that could see the light of day by 2020.
Google is not afraid to try something new, and that has paid off in a big way. For example, the company has teamed up with Citibank to offer a futuristic credit card that allows you to pay via your phone. This is a major win for both parties and the product has already made its way into some of India’s top banks. And that is just the start. It is expected that the company will soon roll out a mobile-first payment platform for the rest of the world as well.
3. It is a way of making cashless transactions
Google Pay is an easy and secure way for customers to make contactless transactions with their cards. They simply have to add their card information to the app, verify it and save it.
In addition, they can also use it to keep track of event tickets, coupons, boarding passes, and loyalty cards. These features help businesses increase sales and reduce customer frustration, making them more likely to convert.
When integrating Google Pay into your business, it is important to train your staff on how to accept it and troubleshoot any issues that arise. It is also important to ensure that your point-of-sale (POS) system and terminals are compatible with the technology.
Google Pay is a good option for businesses that want to offer their customers an easier, more convenient way to make purchases. However, it is important to read the fine print before you sign on the dotted line.
4. It is a way of collecting data
In a nutshell, Google pay is an app that allows you to make UPI transactions using your mobile phone or laptop. The app also provides several other services such as bill payments, mobile recharge, insurance, and loan repayment. It is also the most widely used payment app in India with over a billion users. Its main drawback is that it takes three to five business days for a UPI transaction to appear in your bank account, but that doesn’t stop it from being one of the most convenient ways to pay on the go.
This app has some of the most comprehensive APIs in the industry and is a great fit for the modern-day mobile device user. To get started, you’ll need to sign up for a Google account. Once you have one, you can start integrating the big G into your apps and website via the Google Pay SDK or Chrome extension. This is a great way to bring your customers the best in digital banking.