1/31/2024 0 Comments Google checkoutBut some of the company's initiatives are less finished than others. Even Gmail, Google's e-mail client that launched in 2004, is still in beta. ![]() It seems that Google is reluctant to promote many of its projects from beta versions - early releases that may still have problems with functionality - to completed products. If Google executives see an interesting application that helps the company achieve its goals, there's a chance Google will make an offer to acquire that company. But in some cases, Google products started out as independent projects designed by other companies. Google developed some of these products and features itself. Do a little digging on Google's site and you'll come across everything from productivity applications to an instant messaging client. convenience, speed, and security are among a few reasons to add Google Pay as a payment system for both you and your customers.The backbone to Google's business is its search engine, but that's not the only service Google offers. Implementing Google Pay for ecommerce websites isn’t just about keeping up with the latest payment solutions. Your acquiring bank and your customer’s issuing bank use existing customer data and decoded customer-billing information to finalize the financial operation.ĭiversify your payment methods with Google Pay.The card network verifies the encryption and correlates the token with the customer’s real card number.Google Pay encodes the recently tokenized card and it is ready to be used for financial transactions. As soon as the token is issued, this card is now ‘tokenized’, meaning that it has a unique identification number associated with it.Google Pay requests a token to represent the customer’s real credit from the bank that issued that card. A customer adds a credit or debit card to their Google Pay app.Here are the basic stages of how payments work online: It’s noteworthy that Google Pay is free of charge for both merchants and customers.įurthermore, Google Pay does not submit to merchants the customer’s real card numbers when they pay online instead, Google Pay simplifies a payment process for ecommerce businesses using tokenization in which a token stands for a customer’s real credit and debit card numbers. ![]() Google Pay stores a customer’s credit, debit, gift card, and loyalty information in their Google Account, allowing them to handle fast payments online. With Google Pay, customers can use their smartphones or wear OS watches to make payments quickly with a simple tap of a button in the mobile app or on the ecommerce website. In 2018, the old Android Pay and Google Wallet merged into the unified pay system called Google Pay-a digital wallet and mobile payment system that enables merchants to accept fast and easy payments for physical goods and services everywhere they do business, including in stores and online (both in-app and on the web). ![]() Read more: Ecommerce SWOT analysis Google Pay for Merchants: a must-have payment system for ecommerce stores So what is Google Wallet and how does it work? Let’s dive in and find out! Google Pay, formerly known as Google Wallet, is one of the best ways to make payments directly from your smartphone it’s a quick, highly secure, and easy way to pay online. ![]() So before you integrate any payment system into your ecommerce website, you should ensure that the solution is convenient, used by your target market, and secure. One of the reasons for an incomplete purchase is that customers don’t trust your payment system and are afraid to disclose their personal data and private information. According to Statista, a retail business can lose up to 70% of all potential customers at the checkout due to an inconvenient payment procedure.
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