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Google wallet

GoogleWallet means Google wallet. It is a digital payment system from Google for mobile payment that can be used with smartphones and tablets. In order to use the digital payment systems with smartphones, they must support wireless near field communication( NFC), which is not the case with older phones and smartphones.

To use Google Wallet, consumers must set up a Google Wallet account. The payment service only works with credit card institutions such as Visa, Mastercard, Amex and a few others, through which the bookings are made and which settle the accounts with the merchant. In principle, the payment process is the same as paying with a credit card, with the difference that the NFC credit card is replaced by the smartphone and the credit card terminal by the NFC terminal. In the Google Wallet payment process, the personal identification number( PIN) and credit card information are entered, and the transaction is carried out from the credit card company to the merchant.

The online payment service Google Wallet was changed in its scope of functions with the introduction of Google Pay and was given the name Google Pay Send.

Englisch: Google wallet
Updated at: 17.09.2019
#Words: 187
Links: Google, wallet, digital payment system, mobile payment (mPayment), indium (In)
Translations: DE

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