You’ve likely heard of Google Pay before since it’s one of the most prominent digital wallets available, but do you know much about Google Pay, such as trends or cool facts?
I have been thoroughly looking into the best Google Pay statistics and have found several that I wanted to share with you, so keep reading to learn what I’ve discovered!
Google Pay Statistics In [currentyear]
Google Pay is one of the leading mobile payment methods in [currentyear]. Also, almost 800,000 websites utilize Google Pay, with about 20% of all mobile transactions using the digital payment method. Out of 19 countries that use Google Pay, it is mostly used in stores in India and Russia.
Have you been wondering about even more of the best Google Pay statistics and facts, or have other questions you want answered? If so, continue reading to find out so much more!
1. India & Russia Dominate Google Pay In-Store Payments
When it comes to in-store payments, India dominates the Google Pay market, but Russia also utilizes Google Pay quite a bit, and both use Google Pay more than people in the United States.
2. Google Pay Is One Of The Leading Mobile Payment Methods
One of the leading mobile payment methods is Google Pay; although Apple Pay is responsible for 92% of all mobile wallet transactions, so Google Pay is still a ways behind!
3. Google Pay Was Used Least Often For Food & Drink
Only 2.68% of purchases with Google Pay were for food and drink, with “Other” taking the category with more than 82% of responses.
4. Over 1 Million Websites Accept Google Pay
Google Pay is popular online, and there are over one million websites that accept Google Pay throughout the world, and this trend is likely to continue for years to come.
5. Over 790,000 Websites In America Accept Google Pay
In America, more than 790,000 websites accept Google Pay, and it’s expected this number will continue to rise as more people move to digital wallets.
6. 21% Of Transactions In 2020 Were Made With Digital Wallets
In 2020, one interesting statistic is that 21% of all transactions were made with digital wallets, including Google Pay.
7. Millennials Are Most Likely To Use Google Pay
One Google Pay statistic that you shouldn’t be surprised by is that millennials are the age group most likely to use Google Pay.
8. Google Pay Is Android’s Mobile Payment Option
While it should be common knowledge, one fact some people don’t know about Google Pay is that it’s the standard Android mobile payment option.
Therefore, if you have an Android device, you already have Google Pay pre-installed on your device and ready for you to use at any time!
9. The Run Rate Of Google Pay’s Transaction Value Was $110 Billion In 2019
One interesting fact I found was that the run rate of the Google Pay transaction value was $110 billion in 2019.
10. South Africa Is Least Likely To Use Google Pay
Did you know Google Pay isn’t popular everywhere, and South Africa is the country least likely to use Google Pay? It’s not anywhere near as popular as in America or other countries!
11. Mobile Wallets Will Exceed $80 Billion By 2026
A general fact that includes Google Pay is that it’s expected the mobile wallet industry will exceed $80 billion by 2026.
Furthermore, this number could be much higher than estimated if mobile wallets continue to increase in popularity with both younger and older generations.
America’s mobile payments market share has Google Pay in third place, with Apple Pay taking the most significant market share, followed by Starbucks.
However, the most shocking thing about this statistic is that Google Pay is behind Starbucks in the mobile payment market share.
Google Pay is incredibly popular, and did you know Google Pay has a 36.11% market share in India?
14. Google Pay Has About 100 Million Users
It’s estimated that Google Pay has about 100 million users, which isn’t bad, but it’s significantly lower than Apple Pay which has 507 million users, according to 2020 data.
15. 27% Of Online Sales Are Mobile Payment Fraud
Online sales have been a booming business over the last couple of years, but 27% of all online sales are mobile payment fraud.
Also, this amount of fraud is an alarming statistic that I hope doesn’t become worse!
16. 70% Of Americans Leery Of Mobile Payments Due To Fraud Risk
Fraud is still a huge issue with mobile payments, and a study revealed that 70% of Americans worry about using them because of the associated fraud risk.
However, as mobile payments and digital wallets become even more popular, it’s expected that fewer Americans will be cautious and will use them at some point for purchases.
17. Google Pay Expected To Add 10.5 Million Users By 2025
By 2025, Google Pay is expected to add around 10.5 million users, nowhere near Apple Pay, but it shows Google Pay is steadily trending upward within the next few years.
18. 69% Of Retailers Now Accept Contactless Payments
Contactless payments are becoming more common, and one indicator of this trend is that 69% of retailers are now accepting contactless payments.
In addition, it’s expected that within the next few years, this number is going to skyrocket even higher as traditional credit and debit cards get used less frequently, especially online.
19. Google Pay Was Released In 2011
Google Pay was first released back in 2011, although it was known as Google Wallet during the initial launch in May 2011.
Additionally, the name changed to Android Pay in 2015 before being rebranded again into Google Pay in 2018.
20. Google Pay Uses NFC Technology
NFC technology is behind Google Pay, which stands for Near-Field Communication, and it’s the primary technology behind contactless payments.
21. Google Pay Has No Card Limitations
What’s great about Google Pay, and one fact you may not know, is that there are no card limitations with this digital wallet.
Furthermore, you can store as many cards within your Google Pay wallet as you’d like and just use whichever one you want to for all of your different transactions.
22. Google Pay Is Integrated With Several Banking Apps
Google Pay has been integrated with several mobile banking apps, which allow users to send and receive payments easily.
Also, more mobile banking apps integrate Google Pay and other digital wallets to give customers more freedom and options.
23. Google Pay Offers Multiple Layers Of Security
Google Pay uses NFC technology and utilizes various layers of security so that your information is protected regardless of where you want to shop.
For example, Google Pay uses an encrypted code sent to the merchant and not your credit or debit card information.
How Popular Is Google Pay?
Google Pay has about 25 million active users in the United States, with worldwide figures of around 100 million, but Apple Pay has 507 million users worldwide.
Additionally, out of those 507 million users worldwide, over 43 million Apple Pay users are in America.
Therefore, it’s safe to say that Google Pay isn’t nearly as popular, although it does beat out other options such as Samsung Pay by a little bit.
How Many Countries Use Google Pay?
Google Pay is currently available in 42 countries, and it’s expected this number will get higher as time moves forward.
Which Is Better, PayPal Or Google Pay?
PayPal is the better option because it is accepted worldwide and can be used by both iOS and Android users.
Additionally, international transfers and e-commerce websites accept PayPal more than Google Pay, so you’ll be less restricted on where you can use it compared to Google Pay.
What Are The Cons Of Google Pay?
There are a few insignificant cons of Google Pay that you should be aware of before you decide to go with this mobile wallet, including:
- Not accepted everywhere, either in-store or online
- Older phones don’t have NFC functionality
- Concerns over fraud risk
- Small retailers likely don’t take Google Pay
Some interesting Google Pay statistics include that Google Pay has about 100 million users, with India being where in-store payments with Google Pay are greatest.
In addition, Google Pay should add around 10.5 million users by 2025, and more than one million websites accept Google Pay as a payment method, with over 790,000 in America alone!
However, 70% of people worry about fraud risk associated with mobile payments, although millennials are the group most likely to use Google Pay and other digital wallets.