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What is the payment system from Google?

2016-06-12 00:00:00

An exhaustive amount of information has been written about the benefits of using an electronic wallet on the Internet. But everyone who has decided to use virtual payment systems is faced with a choice - which service should be preferred by which company? What is the best, most secure and reliable resource?

Today there are several large online payment systems. They organize a system for depositing and withdrawing funds on the Internet. These are WebMoney, Yandex.Money, RBKMoney, and PayPal (the last two are the most popular abroad). The world-famous Google corporation has soberly assessed the prospects of such services and has created its own payment system. Today, more and more residents of the world, especially the countries of the post-Soviet space and Russia, are interested in the question of what is Google Wallet. Against the background of the growing popularity of the well-known search engine, the number of potential and real users who are interested in using a relatively new money transfer service from the global giant of online communications is rapidly growing.

 

Google chekout

The first Google payment system was the Chekout service. It was launched in the summer of 2006 in the US, and a year later, in 2007, in the UK. The service was quite simple - to pay for purchases in online stores, the user only needs to enter the login / password for the account and the card number. The card number was saved automatically, and it was not necessary to enter it on subsequent purchases. There was no commission charged for payments using Chekout on Google, and personal data was reliably protected from online store owners. By and large, Chekout became a pedestal, a launching pad on which the foundation of Googles payment system was built. It has more image load and helps to attract new users from whom the system does not charge a commission for transactions. 

 

How the Google Wallet payment system works

The next stage in the evolution of payment systems from a well-known corporation was Wallet or Google wallet. The app was intended for smartphone owners and was launched in May 2011. Developed on the basis of Android, such a payment system was intended to save its users from the need to carry countless credit cards with them, or use real money. The service allows you to pay for purchases through a smartphone with a special application installed, and the store must work in the NFC payment system. The principle of operation of Google Wallet is quite simple: at the time of payment, you just need to launch the application, select the required card and swipe the smartphone over the terminal. Google retained and refined the successful solutions of the previous Chekout system. When registering, it is also enough to enter the minimum data (full name, residence address, card number). The security system in the new online wallet has remained at a high level. Data is reliably hidden from third-party users that would allow fraudsters to write off money from the account. If we touch upon the problem of restoring access to the application, then here too the Gooogle payment system provides the proper service. The resumption of work in the Wallet wallet is carried out through re-registration in the Gmail mail service. Google takes care of all the worries about organizing the protection of personal data and transferring funds, and also gives guarantees of a refund in case of the sellers illegal actions. And the end user enjoys a fast, safe and convenient service.

In fact, the benefits of using this online payment service are obvious: it allows confidentiality, reliably protects personal data about the bank account number from potential fraudsters, saves data on the funds spent and allows you to make a payment without routine unnecessary red tape with credit cards and paper.

Perhaps the only significant drawback of such a system is the limited area of use and financial functionality. You can pay with Google Wallet only when you buy the companys own products. Also, within the Wallet, it is impossible to transfer funds - the system is designed only to pay for purchases. However, despite this, the payment system from Google is confidently gaining momentum.

The new Google Android Pay payment system

Just four years after the launch of Google Wallet, the company is presenting a new product - the Google Android Pay payment system enters the market. As the name suggests, the electronic payment service is becoming available to an even wider range of Android mobile phone users. Googles new payment system also allows you to pay with a swipe of your smartphone. According to the developers, the level of protection of funds from Google Android Pay has become even higher compared to previous developments. The range of stores supported by the application has expanded significantly, which is more than ever gratifying for the user. Android Pay from Google actively cooperates with all common payment systems - VISA , MasterCard . Google innovators managed to give the status of an electronic wallet to the new program. All the users credit and debit cards are now in one place, and the system allows you to freely pay not only on the Internet, but also in real stores.

Users living in Russia cannot yet appreciate the above benefits of using a payment system developed by a global search system (including Google Wallet), since this service is not yet available in Russia. Most of the population is looking forward to the appearance of such a convenient application on the Russian market as the Google payment system.