With the official launch of Google Wallet in the Philippines, millions of Android users will now have more convenient access to seamless payments via Tap to Pay. But many netizens have asked what are the real benefits of Google Pay since we already have QR payments via mobile phones?
Here’s a quick explainer:
Google Pay works without Internet connection
Have you ever tried paying via QR code and there’s no signal? Well, Google Pay is the convenient solution. The transaction makes use of wireless NFC communication, similar to when you tap your credit card onto a payment kiosk. This time, it’s your phone.
It’s more secure thanks to tokenization
Philippine banks have been mulling about tokenization for the longest time as the best security measure for card holders. This simply means that your 16 digit card number is transformed into a virtual account number – which keeps your actual data safe. This is what gets stored in your phone. When you tap your phone to make a payment, the virtual account number – “the token” is sent to confirm the transaction. This means that your actual data is safe in case the vendor gets hacked.
All your cards in one app
If you have cards from several banks, you won’t need to stuff your wallet with physical cards anymore. Credit and debit cards added to Google Wallet also retain their perks which means you still get the discounts and freebies from your favorite cards like Maya Black Miles points and 10% off on Jabroni’s with GoTyme.
It’s just faster
Imagine falling in line to make a payment — whether it’s at the train, bus, or even at the fast lane in a grocery store. The time it takes to open your phone, scan a QR code (or generate one) takes roughly ten seconds per person assuming everything goes well. With NFC Tap to Pay, it’s half a second. We’re looking at less lines.
It’s a boost to tourism
For years, tourists from other countries have lamented the lack of both Google Pay and Apple Pay in the Philippines to make transactions. It’s a chore to create a GCash account for a non-citizen so Google Pay is the most relevant and common-sense solution to help boost tourism spend because it provides a more convenient option that’s attuned to the pulse of the world.
With the launch of Google Pay in the Philippines, we’re expecting more smartphone brands to launch affordable phones with NFC enabled.
