Best for
Free payment processing.
Specializes in
Google Wallet/Google Pay specializes in helping merchants to be able to quickly accept mobile payments for physical products and services. It can be used both for online transactions as well as at brick and mortar stores. Where Google Wallet excels is in its security. Merchants get to enjoy the benefits of reduced risk with their credit card transactions.
Pricing Summary
Setup Fee: N/A
Monthly Fee: N/A
Swipe Rate: N/A
Keyed-in Rate: N/A
Early Termination Fee : N/A
Contract Terms:
Google Wallet/Google Pay provides a way for merchants to accept payments for their products and services.
Merchants can quickly and securely accept payments if they have an online store or a brick and mortar business.
Google Wallet is beneficial because customers can store their credit and debit cards securely, as well as any loyalty and reward cards.
Google Wallet/Google Pay is a mobile payment system that is more like a virtual wallet for consumers.
Users are able to make payments and transfer money directly from their phones, and the service is completely free for consumers.
Electronic wallets like Google Wallet/Google Pay aim to sidestep any security concerns that consumers may have by streamlining the mobile payment process through a secure service.
Google Wallet is what the payment processing industry calls a server-side wallet. This means that Google’s system stores all of the user’s financial information instead of keeping it stored on their phone.
All transactions take place between Google’s servers and the merchant’s payment processor.
On the merchant’s side, Google Wallet’s transactions work the same way as all other payment methods.
Google Wallet/Google Pay is growing in popularity. It was first released in 2011, and it is positioned to become a leader in the payment processing space.
Head Quarters
Unknown
Year Founded
Unknown
CEO
Unknown
Employees
Unknown
Merchant Provider Risk Tolerance
Hardware & Software
Google Pay does not process or authorize transactions. Instead, it integrates with existing payment processors by utilizing their POS terminals or gateways to process payments. The Google Pay system works by requesting a token to represent the payment card. Once this is issued, the card is given a unique identification number. Google Pay encrypts that tokenized card and it is ready to use for payments.
Value Added Services
Google Wallet/Google Pay allows merchants to establish brand affinity and improve their engagement with their customers. Consumers can save a merchant’s pass through Google Pay to increase their brand awareness. The merchant’s pass will then notify them when they are near store locations. But one of the best parts about Google Wallet/Google Pay is that merchants never pay hefty transaction fees when their customers make purchases.
Supported Payment Types & Services
Google Wallet/Google Pay offers support for all debit and credit cards. But there are added benefits as well. Adding Google Pay API for Passes allows customers to save and use loyalty cards, gift cards, event tickets, boarding passes and various types of offers from the merchants they do business with.
Discloses All Important Terms
Yes
Public Pricing Available
Unknown
One of the benefits of Google Wallet/Google Pay is that it is 100% free for both consumers and merchants. There are no transaction fees for the merchant to pay whatsoever.
Pricing Model
Unknown
Swiped Rate
N/A
Keyed-in Rate
N/A
Mobile Payment Rate
Unknown
Virtual Terminal Rate
N/A
Monthly Fee
N/A
Payment Gateway Fee
N/A
Batch Fee
Unknown
Early Termination Fee
N/A
PCI Compliance Fee
N/A
Equipment Lease Terms
N/A
Address Verification Service (AVS)
Unknown
Application Fee
N/A
Account Setup Fee
N/A
Gateway Setup Fee
N/A
Annual Fee
N/A
Monthly Minimum
Unknown
Statement Fee
N/A
Google Wallet/Google Pay does not indicate that they have contracts with merchants.
Contract Length
Unknown
Early Termination Fee
N/A
Google Pay makes it easy for merchants to get set up to accept customer payments through Google Wallet. They offer a simple four-step process:
Review developer documentation.
Get access to the APIs.
Integrate and test.
Go live.
Google Pay already has excellent relationships with many of the most common payment processors in the world. Their services can integrate with processors who offer online checkout, in-store checkout, eCommerce checkout platforms and passes and tickets.
They offer many ways for merchants to get support, including through their Google Pay Merchant Help Center, through their Contact Us page or by phone.
BBB Rating
Google Pay is not BBB accredited.
There are seven complaints on the BBB website, mostly pertaining to problems with the service. Some issues that were mentioned include:
Being unwilling to issue refunds.
Problems with Google Play cards purchased through Google Pay.
Overcharging credit cards.
Difficulty logging in to the service.
Google Play Store
Google Pay has a 3.8 star rating on the Google Play Store. Most of the reviews give the app and service five stars. Those customers rate the app easy as easy to use and very convenient.
Some of the issues customers mention include:
Automatically deleting payment methods.
No longer allowing multiple user profiles.
Issues accessing the app due to changing security standards.
BBB
Unknown
N/A
Unknown
Yelp
N/A
Total Online Reviews
Unknown
Total Online Complaints
40+
Lawsuits
Unknown
If you're in the market for a merchant account provider, be sure to check out our user reviews, our merchant accounts guide and our top popular merchant provider picks