Internet giant Alphabet Inc. (GOOGL.O) has launched Google Wallet in South Africa in an effort to secure a foothold in the fast-expanding digital payments industry in the country.
The COVID-19 pandemic has hastened the transition to digital transactions, and nowadays, most individuals prefer to make contactless payments using their smartphones rather than using credit or debit cards. The widespread use of smartphones has also been beneficial to adoption rates.
- Alphabet Inc launched Google Wallet in South Africa in an effort to secure a foothold in the fast-expanding digital payments industry in the country
- Cardholders of FirstRand Bank, Discovery Bank, Investec, Standard Bank, ABSA and Nedbank will be able to add their cards to Google Wallet
- Apple Inc introduced its mobile payment system known as Apple Pay in South Africa the last year
Google Wallet comes after its debut in 39 new markets in July. The launch cycle for this week is shared by South Africa, Iceland, Serbia, Qatar, Moldova, and Azerbaijan. More nations will do the same.
Dong Min Kim, the global product director at Google for Google Wallet, explained on Monday to journalists in South Africa, in advance of the launch on Tuesday, that the roll-out is a component of a bigger scheme to improve the service available in many more markets around the world.
According to Min Kim, Google is speeding up the global roll-out of Google Wallet due to customers’ “generational shift” away from conventional payment methods. He said that the chance to reinvent how people pay online, in stores, and what they carry in their wallets had been created.
In that it offers access to ticketing (airline boarding passes, for instance), in-store loyalty cards, and other services, he claimed that Google Wallet “goes beyond mere payments.
Google Wallet, which is only available for Android, provides fast and secure access to all your everyday essentials,” he continued.
Google Pay needs customers to touch to pay with their phones at a point of sale, then verify themselves using a fingerprint, their face, or a Pin, just like rival systems like Apple Pay, Samsung Pay, and Huawei Pay.
“As Google collaborates with partners to bring these to market, South Africa will get access to event tickets, boarding permits, and store loyalty cards. KLM, United, Air France, and Singapore Airlines are already available to South Africans as international airline partners. We’re attempting to broaden our partner network,” Min Kim stated.
South Africans can start looking forward to a more secure, less complicated, and more informative experience when doing financial transactions.
“At Google, we have realised that in order for technology to be successful, it must be accessible to all users.
We want to make digital wallets accessible to everyone by providing them with fast and secure access to their everyday essentials.
This can be accomplished by including everyone and creating a dynamic ecosystem of manufacturers, developers, and users.” Google SA Country Director, Alistair Mokoena said.
How Google wallet works
Customers will have a very easy time using Google Wallet because of the straightforward process.
Those users who have already saved a credit or debit card to their Google account will have that card’s information immediately imported into Google Wallet.
Following the on-screen instructions to configure it for contactless payments is all they require at this point.
Users who do not currently have a card saved but would like to add a new card to Wallet can do so by selecting the “Add a card” prompt in the carousel at the top of the wallet app page.
Once they do so, they will be prompted to review and accept the terms and conditions imposed by the Issuer before using the new card.
After their card information is accepted and verified, their cards will be tokenized and ready for usage in Google Wallet.
After that, they will be able to use them to tap and pay at checkout in stores as well as pay online wherever the Google Pay or contactless icon is shown.
It is just as easy to add digital objects to Google Wallet, such as boarding passes, and it usually only takes a few clicks to accomplish this task.
For instance, when a user has finished purchasing a flight on the airline’s website, they will see a button labelled “Add to Google Wallet.” Clicking that button will cause the digital version of the item to be created in the user’s Wallet.
“Security and privacy are incorporated into every facet of Google Wallet, making payments safer and allowing consumers to transact seamlessly and with confidence throughout the day. This is the most critical aspect of Google Wallet.
This will make it possible for customers to complete transactions by using a virtual card number, often known as a token,” Alistair Mokoena explains.
“We couldn’t be more thrilled to announce that Google Wallet is now available in South Africa.
We hope that people will enjoy how easy it is to use and how secure it is for them to transact their business confidently,” Mokoena added.
Cardholders of FirstRand Bank, Discovery Bank, Investec, Standard Bank, ABSA and Nedbank will be able to add their cards to Google Wallet.
This will allow them to pay with their Android phones or Wear OS devices wherever contactless payments are accepted.
The competing company Apple Inc. (AAPL.O), introduced its mobile payment system known as Apple Pay in South Africa the last year.