Wednesday, 07 December 2022

Difference Between Google Pay And Google Wallet

Difference Between Google Pay And Google Wallet

Google, back in 2022 earlier this month, announced the launch of Google Wallet to store student ID, transit tickets, vaccine cards, credit cards, and debits cards. Google said that Google Wallet would also be available on Wear OS at its annual event. Additionally, the company announced that Wallet users would be able to check the balance of transit passes and top up within Google Maps.

Incidentally, the announcement comes as Google is already offering a payments service called Google Pay or GPay to users across the globe. This had created confusion among users, many of whom wondered if Google had rebranded Google Pay as a Google Wallet service, as it did with Google Pay when it was earlier called Tez, or if Google Wallet is a different platform service.

So, here is a simple explainer that will answer all your queries about Google Wallet and Google Pay. But first, a history lesson. Also, Read - YouTube's player will now show the 'most replayed' parts of a video to save your time.

Google Wallet is not new.

To start with, Google Wallet is not new. Google first launched Google Wallet in 2011. At that time, Google Wallet allowed Android users to tap their phones against QR Readers at select stores to make digital payments. However, it had one key limitation: it only worked with Google Nexus smartphones. Additionally, it only supported debit and credit cards by Citi, MasterCard, FirstData, and Sprint for making payments.

Google Wallet becomes Android Pay.

After four years, Google 2015, the company replaced Google Wallet with Android Pay. Android Pay was, an extract, an evolution of Google Wallet as it facilitated payments across all Android smartphones. It was easier to use as it didn't require users to download any separate app. However, instead of shutting down Google Wallet, the company changes into a peer-to-peer service.

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Android Pay and Google Wallet turned into Google Pay.

Back in 2018, Google folded Google Pay and Google Wallet into a single app called Google Pay. Google Pay offers not only in-store contactless payments but also offered online payments and peer-to-peer payments. Google Pay then took over the Google Wallet role for keeping gift cards, transit cards, and event tickets. It also replaced Google Chrome's autofill feature, giving Android users the flexibility to use one service for their digital payments.

In 2018, before Google Wallet and Android Pay were being turned into Google Pay, the old Google Wallet app was changed to Google Pay Send for receiving and sending payments online. Google Pay was discontinued in 2020, leaving Google Pay the only app on the market.

Tez came in 2018

While Google was working on upgrading Google Pay, it launched a digital payments app in India called Tez in 2018. Tez aimed to facilitate peer-to-peer payments using India's Unified Payments Interface (UPI). The service also got features that enable users to pay utility bills and earn reward points.

Adding more confusion for users, Google rebranded Tez as Google Pay and replayed it with 'GPay' in the app. Google introduced the service in another region of the world. In India, the company offers GPay, which we are using right now. However, in the US and Singapore markets, the company provided two separate apps — the old Google Pay and the new GPay.

Google Wallet came in 2022.

Now Google, in 2022, the company has launched Google Wallet. Users can do everything they did with Google Pay. Google says that Google Wallet will inform you of any delays and gate changes when you board flights.

The company added.

"Plus, even if you lose your debit or credit card and wait for the replacement to show up, you can use that card with Google Wallet because of the virtual number added to it,"

Google Wallet service will be available in 40 countries where Google Pay is available where it will automatically replace the service. The list includes Romania, Estonia, Japan (coming soon), Slovakia, Austria, Finland, Kazakhstan, Spain, Belgium, France, Latvia, Sweden, Brazil, Hungary, Lithuania, Switzerland, Bulgaria, Greece, Netherlands, Taiwan, Canada, Hong Kong, New Zealand, Ukraine, Chile, Germany, Norway, United Arab Emirates, Croatia, Ireland, Poland, United Kingdom, Czech Republic, Israel, Portugal, Denmark, Italy, and Australia.

Google Wallet and Google Pay are not similar.

Google has commented that Google Wallet will not be available in India, where GPay will continue to be the default offering. However, in Singapore and the US, Google will offer these apps, Google Wallet and GPay.