Today people actively buy goods online. And not everywhere they can pay with their credit cards. Instead, they need to use different payment systems. There’re a lot of them nowadays, but I’d like to talk about two most popular – PayPal and Google Wallet. Which one of them is better? Google Wallet or PayPal? You may ask. Let’s try to sort it out.
PayPal is the most popular payment system. This system works in 190 countries (though not everywhere it offers a full range of services), has more than 164 million registered users and works with 24 national currencies. The company was founded in 2000, and in 2002 it was bought by eBay, and after that it began growing rapidly.
The payment system offers a wide range of services: payment, online credits (Bill Me Later service), PayPal Here which enables you to pay with your mobile phone (though only iPhone at the moment).
Google Wallet is much younger than PayPal. The service was first introduced in 2011. The main advantage of this service is that it allows you to pay for the purchases with your mobile device. All you need is to install Google Wallet app on your smartphone, enter your credit card data, discount cards data (if you have any), and you’re ready for shopping.
When paying you just launch the app, enter your PIN code, choose the card and move the smartphone to a terminal. But, unfortunately, there’re some certain conditions:
- Both your smartphone and terminal have to support NFC technology, which is still not widely spread all around the world;
- Card payment system should support such types of payments. Visa supports already, while Master Card only via City Bank;
- Your mobile provider should support service for your smartphone identification. Very few providers do that.
Right now Google launched a new service allowing people to pay via email. But so far this feature will be available only on the territory of the United States.
Comparing these two systems, I can’t but mention that at the moment PayPal is much more popular than Google Wallet. The first reason is that this system is older and has more trust from users.
Secondly, the application of Google Wallet payment system is still pretty limited due to peculiar technologies used in the process of payment. But with further development and spreading of NFC technology Google Wallet will be able to compete at the same level with PayPal.