In this world each and every thing turns out to be electronic. The money payment systems too got electronic years ago. The growth led us all do our payments via our gadgets. There are many companies like PayPal, Boku,Zong,etc.. providing services for paying online for the masses. Now the giant Google jumps in with its Google Wallet. Its under use in many countries, now they are planning to bring it to India.
Google Wallet is a mobile payment system that allows its users to store
credit cards, loyalty cards, and gift cards among other things, as well
as redeeming sales promotions on their mobile phone.So basically the Google Wallet service will initially meant for users
who want to buy applications from Android Market. However, this may
lead to full fledged roll out of the services in the country.
App developers who were earlier using payment services such as
PayPal, Boku and Zong will now have to resort to Google Wallet which
charges a higher transaction fee or charges per transaction resulting in
lesser saving for the developers, ultimately lowering their profit
margins per app sale.But for the users the inclusion of an integrated service like
Google wallet would mean lesser transaction time and even lesser worries
as the Android devices already are linked to the Google account with
which the wallet service is also linked.
With a one stop payment service, many app developers are also
okay with the fact that users will have to suffer a lot less because of
the simplified process and even though the charges for Google Wallet are
little bit on the higher side, a lot of customers will now opt for
purchases because it will be much simpler now.
There is no deadline set for the shift from third party payment
services to Google Wallet for the payment services but many developers
are shifting their services as they want to retain a good relationship
with Google Android which has been on a growth path since the day of its
launch.
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