Google Pay

In recent years, the U.S. digital wallet market has experienced rapid growth. Although credit cards still dominate in offline retail scenarios, digital wallets have overtaken credit cards to become the preferred payment method for the e-commerce sector. With the rise of Gen Z consumers and advancements in mobile payment technology, it is expected that by 2025, the number of digital wallet users in the U.S. will exceed 125 million, and digital wallets will play an even more important role in the U.S. payment market. In the United Kingdom, the world's sixth-largest economy, the penetration rate of digital wallets is also rapidly climbing. Data shows that from 2017 to 2022, the digital wallet penetration rate in the UK rose to 47%, with over 70% of individuals under 34 years old using digital wallets. Antom supports mainstream digital wallets, including Apple Pay, and covers more than 90% of digital wallet transactions.

Google Pay is a mobile payment and digital wallet service launched by Google. It supports contactless payments in physical stores (using NFC technology), online quick checkout, public transport card payments, and the management of bank cards and membership cards, while also providing features like money transfers and promotion synchronisation. Google Pay ensures the security of digital wallet transactions through virtual account encryption and biometric authentication. It is compatible with Android and some iOS devices and is available in over 60 countries and regions worldwide. The service is especially suited for consumers seeking convenient payments, multi-card integration, and contactless payments. However, some features (e.g., money transfers) are region-dependent and require compatible merchant devices.

With Google Pay, consumers can seamlessly access their saved card information and complete payments without the need for manual input. In addition to digital wallet payments, Google Pay also integrates card management and loyalty point features, further expanding the scope of digital wallet services. This makes it not only a payment tool but also a convenient everyday assistant, fully demonstrating the advantages of modern digital wallets in terms of integration and accessibility.

Properties

The following table lists the product properties supported by Google Pay:

Note: AVS is an anti-fraud service provided by credit card issuers, primarily used to verify the cardholder's identity during online or card-not-present transactions.

User experience

Note: The following payment flows on different terminals are reference only, and represent this payment method's flow on different terminal types. For supported merchants' terminal types, consult Antom Technical Support.

The following figures show the journey of paying with Google Pay:

Web

App

1. The buyer selects Google Pay to pay.

2. The buyer is directed to the Google payment sheet, confirms the order information and completes the authentication.

3. The buyer is redirected to the merchant result page.

FAQs

1. Is Google Pay digital wallet safe to use?

Google Pay uses dynamic tokenisation technology (i.e., a unique virtual card number is generated for each transaction), along with Face ID/Touch ID biometric authentication, to effectively prevent information leakage and fraud risks during the transaction process. Compared to traditional credit card payments, Google Pay digital wallet significantly reduces the rate of fraudulent transactions.

2. Can I use Google Pay digital wallet for cross-border payments?

Yes. When you are in countries/regions where Google Pay digital wallet is available, you can directly use linked cards to make payments. Google Pay digital wallet does not charge a cross-border payment fee; however, some issuing banks may charge a currency conversion fee according to their policies. It is recommended that you verify whether your linked credit or debit card supports fee-free currency conversion to fully maximise the benefits of cross-border payments via digital wallets.

3. What is the Interchange++ pricing model?

Interchange++ is a highly transparent payment pricing model. This model accurately tracks the interchange fees and card network settlement fees incurred for each transaction and allows for cost pre-estimation before the payment is completed. With this precise, transaction-level pricing model, merchants can clearly understand the actual cost breakdown for each payment.

4. Does Antom charge an initial system fee or monthly service fee?

Antom's basic acquiring products do not charge any system installation fees, monthly service fees, technical integration fees, or account cancellation fees. If you would like to learn more about specific service terms and fee structures, please contact our business team, who will provide a customised service description based on your business needs.