The Difference Between Google Wallet & Google Pay (2024)

FAQs

The Difference Between Google Wallet & Google Pay? ›

Google Wallet allows consumers to hold a wallet balance, send and receive money from friends in the United States, and use a plastic card in stores and online. Google Pay allows users to tap and pay in stores and use/redeem loyalty cards, gift cards, and offers in store.

Generally, Google Pay was used to send and receive money between people, sync and view activity on credit / debit cards, and take advantage of coupon offers. Google Wallet is used to store credit cards, loyalty cards, etc., and can be used to pay at stores that accept Google Pay.

Google's strategy around Google Wallet and Google Pay has chopped and changed over the years; Google Wallet first emerged in 2011 but didn't see much traction, only to be replaced by Google Pay in 2018. Then in 2022, Google announced that Google Wallet was coming back to replace Google Pay, but not in all markets.

The app's discontinuation is part of a company strategy to simplify its digital payment options, by moving customers onto a more comprehensive solution — with Google Wallet storing digital items alongside payment cards and already boasting three times the user numbers of Google Pay.

The Disadvantages of Google Pay

Since it's still an up-and-coming payment method, it's not as widely used or supported as some alternatives. On top of that, some banks don't accept Google Pay yet. Make sure to confirm that you'll be able to link it to your bank account.

Yes! Google Wallet is free of charge to all users. What is a digital wallet? A digital wallet is a fast, secure way to pay with your phone or to store cards, tickets, passes, keys and IDs.

You don't need to open the Google Wallet app. Tip: In most countries or regions, smaller transactions don't require you to unlock your phone.

Google Pay, the digital payment app for desktop, mobile apps, and in stores, was pretty much phased out by the introduction of Google Wallet in 2022. Google Wallet, which is a mobile app for Android users, is used five times more than Google Pay, according to the announcement.

It started as Google Wallet renamed to Android Pay then renamed to Google Pay then split into Google Pay and Google Wallet and now back to just Google Wallet.

Wallet supports payment methods linked to your bank accounts (like debit or credit cards) so that you can make contactless payments. It does not link directly to bank accounts.

What is replacing Google Pay? ›

In an update to the mobile payment sector, Google has announced it will discontinue Google Pay in the US by June 2024, transitioning users to Google Wallet.

While in-store and online payments via Google Pay remain unchanged, the U.S. version of the Google Pay app will no longer be available for use starting June 4, 2024.

Effective June 4, 2024, the GPay app will no longer be available on the Google Play Store or function on existing devices. This decision comes alongside the discontinuation of peer-to-peer (P2P) payments functionality within the region.

Google Wallet allows consumers to hold a wallet balance, send and receive money from friends in the United States, and use a plastic card in stores and online. Google Pay allows users to tap and pay in stores and use/redeem loyalty cards, gift cards, and offers in store.

Payment method encryption: Since Google Pay doesn't store your card details on your device, no one can access your info, even if it's unlocked. Learn more about automatic security features.

When you pay in stores, Google Pay doesn't share your actual card number, so your information stays secure. To buy things in stores, Google Pay requires you set a screen lock and unlock for most purchases. If you lose your phone, the screen lock helps prevent fraud.

To use Google Pay, simply unlock your phone and hold the back of your phone near the payment reader until a blue checkmark appears on the screen.

Surprisingly, Google Pay is safer and more secure than using a credit card, and for a number of reasons.

To protect payment information and reduce security risks, Google Pay uses tokenization to save your card. This process replaces sensitive information like a card number, expiry date, and CVV with a device-specific token. The token acts as a substitute value used to process payments.