E-wallets are becoming increasingly important in the post-pandemic economy as consumers move away from cash payments. Digital wallets like Pay Apple and Google Pay have exploded in popularity due to their convenient features, including instant payments across different platforms, privacy protection, and virtual card management. Since both digital payment platforms offer a wide variety of features, customers may find it difficult to decide which e-wallet best suits their needs. To help you decide which digital wallet is right for you, we’ve outlined the similarities and differences between Apple Pay and Google Pay.
Introducing Apple Pay
Launched in fall 2014, Apple Pay is a mobile payment service developed and offered by Apple Inc. that allows customers to make purchases in-store, in-app and online with their iOS devices. Its contactless payment technology encourages consumers to ditch their bulky wallets in favor of electronic versions of their debit and credit card information.
Apple Pay is accepted by thousands of retailers worldwide, including more than 75% of US businesses and 85% of UK establishments. It has become a dominant online payment system, used by over 227 million people and accepted by major retailers and restaurants including Subway, McDonald’s, Pizza Hut, Nike and Disney. The in-app privacy shield and secure payment system have made it a reliable payment method with Apple Pay Betting Sites. Plus, it can be used for everything from buying groceries, splitting rent, paying for plane tickets, or shopping online.
Apple Pay | iPhone 12 Pro | Retail Square checkoutOn Google Pay
In 2018, Google updated and redesigned its mobile and online payment systems, bringing them all together under the Google Pay banner. The app has over one hundred million users in 46 countries and supports contactless payments and in-app purchases across various platforms.
Google Pay is the preferred online payment method due to its fast processing times and no hidden fees when shopping, paying bills, and covering other types of day-to-day expenses. It differs from other digital wallets in that it deposits funds immediately into the user’s bank account. This eliminates the need for the user to worry about receiving funds into a wallet and then transferring them manually.
Similarities
Digital wallets like Apple Pay and Google Pay are great options for shopping online due to their convenient features and security measures. These industry leaders have distinct qualities, but they also have things in common. Let’s take a closer look at the similarities between Apple Pay and Google Pay.
Instant payment process
When you make an in-app or web purchase with Google Pay or Apple Pay, the entire checkout process is automated with pre-populated defaults and PIN or Touch ID identification.
Contactless payments
The Apple Pay and Google Pay systems both allow customers to make contactless payments using near field communication (NFC) technology.
Secure transactions
Both systems use tokenization, a method of hiding financial data such as PANs (personal account numbers) during transactions, thus ensuring safe and secure transactions.
Differences between Apple Pay and Google Pay
Here are some of the most notable differences between Apple Pay and Google Pay
Accessibility
Comparatively, Google Pay can be used on any Android device as well as iPhones, while Apple Pay is exclusively compatible with iPhones, iPads, and iPhones. Apple watches who have Touch ID or Face ID.
follow up
If you use Google Pay, the company can track your purchases and use this data to provide you with more relevant advertising. However, Apple unequivocally states that it will never monitor your financial transactions.
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