From there, as Pali Bhat, the VP of product management and payments, puts it, "you can speed through checkout with peace of mind".
"Over the coming weeks, you'll see Google Pay online, in store, and across Google products, as well as when you're paying friends", said Bhat. While the Android Pay branding will switch over to Google Pay and the Google Wallet app will likely get a redesign and a new icon (or perhaps it will become integrated into a single Google Pay app), all of your saved credit card and banking accounts should seamlessly make the move.
But the new system Google Pay brings all this under one umbrella, which the company says should make buying and paying through Google much less confusing. We are also yet to see what changes the search giant makes for its Indian Google Tez users.
Google offers various ways to pay for things on devices and the web, and all these transactions fall into one of several products buckets.
Tez at present uses the Unified Payments Interface which is an interoperable payment system. Through Google Pay, it is possible to send and receive money from/to your friends/colleagues/family apart from shopping payments. Now, Google is streamlining all of its payment methods and apps into a single service called, you guessed it, Google Pay.
The combined user base of Apple Pay, Samsung Pay and the new Google Pay is expected to exceed 500 million by 2021, Juniper Research predicts. When you think about it, that wasn't a very versatile brand for mobile payments. Android Pay is now Google's primary payment brand, but it's a bit awkward given it is branded as a platform-specific thing. However, while Google Wallet still exists, the tap-to-pay system was then rebranded Android Pay and introduced in multiple markets.