Google has decided to consolidate Android Pay – its mobile payments system – with Google Wallet – its peer-to-peer money transfer system – into one single entity: Google Pay.
With the new product, all payment information that is saved to your Google Account will be available across all Google products, as well as in-store, or when paying friends. This is where it gets interesting, as Pali Bhat VP of Product Management for Payments reveals that Google will also be bringing these experiences to Tez – the mobile payments service by Google – targeting users from India.
There are many popular services that already accept Google Pay on their platforms: Airbnb, Dice, Fandango, HungryHouse, Instacart, among others. Moreover, users will be able to perform purchases on Chrome or YouTube if they’re using its subscription service, on Android for in-app purchases, or in stores via NFC.
This is an important development, as Google, by choice or luck, created an ultra-fractured ecosystem, which needed two different apps to perform a range of transactions. With Google Pay, Google clears any confusion, and makes a product as cohesive and intuitive as Apple Pay. Let’s not forget that Facebook has also been exploring the world of payments and transactions for a while now.