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Google Wallet Threatens PayPal with Peer-Payment Feature

What sets PayPal apart from other online payment methods is its peer-payment feature, as well as its stored-value capability, but Google Wallet has now introduced a way for its users to send payments to anyone using just the recipient’s phone number.

You can be forgiven if you thought Google payments were dead – it killed off Google Checkout in 2013 and initially kept Google Wallet as a mobile payment feature.

In September of this year, Google launchedAndroid Pay for making payments using Android smartphones.

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Now Google says it built the new Google Wallet app from the ground up to give users a fast, free way to send and request money on both Android and iOS devices

With the new Google Wallet, users can send money to anyone in their contact list using just a phone number. “When you send money to a phone number, the recipient will get a text message with a secure link,” Google explained. “They can simply enter their debit card to claim the money and it will be available in their bank account within minutes.”

In its recent announcement, Google had told users to find the new version of the Google Wallet app on Google Play or in the App Store.

But what about Google’s Android Pay? In a FAQ, Google explained the difference:

Android Pay is the simple and secure way to use your Android phone to pay in stores and within apps. Learn more about Android Pay here.

We built the new Google Wallet app from the ground up to give you a fast, free way to send and request money on both Android and iOS devices. All you need is a US debit card or bank account. You can quickly transfer any money you receive to your bank account or spend it in stores using the Google Wallet Card, wherever Debit MasterCard is accepted.

You can read more about Google Wallet from the Android experts at Android Police.

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Ina Steiner

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. Send news tips to ina@ecommercebytes.com.


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