1234567In our eCommerce class we had a guest speaker from Google that introduced us to Google’s new product; Google Wallet. Google Wallet is a free digital wallet that securely stores your credit cards, debit cards, offers and more. At this point of time it is based in the United States only. Google Wallet is similar to existing digital wallets like PayPal and Square in some areas but very unique in others.
Features comparisios between Google Wallet and other existing digital wallets:
- Google Wallet, like other digital wallets, provides the ability to send and receive money anywhere to/from people who have Google Wallet. It is easy, free, and secure. However they are different with their new feature they added that enables users to actually send/receive money via email. Money are sent via attachment using your gmail account. You can send money to none Gmail users as well. You can now send them money as easily as seeing them a picture!
Following is a simple table that illustrates Google Wallet rates from sending and receiving money.
- Google Wallet Purchase Protection covers 100% of eligible unauthorized Google Wallet transactions. Plus, their advanced monitoring system checks for fraud 24/7, which means, as they label it, you can shop with confidence. In addition, Google Wallet never shares the full credit and debit card info you store in your Wallet with any merchant, online or offline.
- Another unique feature that is not implemented by any of the existing digital wallets is the ability to store your loyalty card information using Google Wallet. This is enabled by simply scanning the cards or typing in the numbers and instantly join new programs in the app, and leave the plastic cards behind. You no longer need to have several applications track your loyalty points, Google Wallet is the new one shop stop.
- To me, one of the main reasons I do not redeem offers is because I have them spread around the apartment in different places and forms. Some are in my email, some are on my study desk, others somewhere under the bed, and most of them are in the trash. Google Wallet makes it possible to collect all of your offers and sort them in one simple, clean, and organized platform. This makes it easier to find the offer, remember that you have an offer, and actually use it.
- Similar to Square, Google Wallet allows for faster in-store checkout. With NFC-enabled devices you are able to tap to pay. Purchases can be funded with your Wallet Balance or with your preferred credit or debit card. Unlike Square, Google doesn’t charge any fees when you tap and pay.
- Purchases on mobile apps and sites in as few as two clicks. Similar to PayPal Google Wallet has your information stored, you no longer need to do your favourite process of online purchasing (filling out billing and shipping forms) just click on Buy with Google button and you are good to go.
- Unlike PayPal, when creating an account Google Wallet asks for the social security number in order to increase security measures to avoid any future hazards that may occur.
1234567For the above mentioned features, I am considering looking deeper into Google Wallet, and trying it to see if it is really worth switching from PayPal to it.