gpay vs google pay

Saturday, January 03, 2015

Mobile payment options are the future of making purchases and sending or requesting money to others virtually. Mobile pay can be used in person or online, like credit cards, making it a flexible and secure option. Similar to Apple Pay for Apple users, popular mobile payment options for Android users include Google Pay and GPay. Even though these are both services offered through Google, they operate a little differently, so we’ll explain those differences here and what payments you should accept for your business.

Why are there two services?

The two payment softwares arrived on the scene sequentially. First, the Google Pay app came, taking over the original Android Pay and offering Android users the opportunity to make payments that were connected to Google Chrome.

Then, to make payments between friends, Google introduced the app GPay.

Google Pay

Before Google Pay got its name, Android users relied on Android Pay to make NFC payments. Android Pay could also store debit card and credit card information for their users so that payments could be made directly both in person and virtually. Then, Google Wallet acquired Android Pay and changed the name of both services to Google Pay. However, in order to make payments between people more streamlined and offer more unique services, a new payment app was developed.

GPay

GPay was created as an app specifically for payments between friends and family, and contactless (using NFC) payments in-store. It is, in every sense, a virtual wallet originally built for Android phones (such as those from Samsung, LG, or Google Pixel, for example) but now can operate on iOS systems (Apple iPhone) as well. Later, additional features were created to allow the user to track their finances, use coupons and other types of offers, store gift cards, boarding passes, concert tickets, and beyond.

Also new to the GPay app is the option to find and save deals from retailers, both generic or algorithm-based on the consumer’s shopping habits (which can be turned on or off in the app settings). The user can tap to save any of these deals directly in the app, launching the web browser necessary to find and use those deals online. Many of these offers are cashback, for which cash will compile in the GPay account, and the user will be able to transfer this money directly to their bank account or use it in transactions.

Key Differences

The primary difference between the two apps is the functionality that comes with the GPay app. While Google Pay offers a simple way to make contactless payments (also called tap-to-pay) in stores with NFC readers and save a few important cards and other records, GPay provides a broader range of capabilities.

Google Pay is the way to go for those seeking simplicity in their payments, while GPay is for those who seek a payment app with increased functionality. Simply put, GPay is Google Pay’s upgrade, though both apps still exist and can be used at any time.

Similarities

The most important similarity between the two is the security measures that keep user data private. Transaction encryption, authentication processes, and fraud protection are built into both apps for this purpose, meaning that neither app is more or less secure than the other. There is also the possibility to customize security settings and authentication (including options for PIN, two-step, and others).

Most Google apps (including Google Photos, Gmail, and others) come pre-installed on many Android phones, but can also always be found in the Google Play store. For iOS, they can be found in the App Store.

What should you accept in your business?

Regardless of which app the consumer chooses to use to shop, both payments can be accepted using the same software. So, if your business accepts in-person payments via NFC, it will not make a difference which app the consumer uses to pay. Enabling Google Pay is a simple process and will allow payments to be made from both apps, just as they would be made via Apple Pay.

Ultimately, allowing payments to be made to your business via Google Pay or GPay will broaden the scope of consumers shopping with you and likely increase revenue. Mobile pay is the way of the future, thanks to the way it both simplifies the payment process and does it with added security.


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