Google Ramps Up Mobile Payments With Your Current Google Account
Google’s annual I/O developers’ conference commonly delivers plenty of exciting new innovations, and this year’s version is no exception.
In fact, new reports say that Google’s showing off a new way to pay for items on platforms ranging from desktop and mobile websites to Android apps, all using standard Google credentials.
Essentially, the system will allow users to take their current Google account and link a credit card to it, thus allowing users to sign in with Google credentials and make payments accordingly.
That opens up a huge new user base; not just for Gmail users, reports note, but also for YouTube users, or even Google Play users. Those interested will only need to shop at places that feature a “Pay With Google” button, and can choose their desired linked card by logging into Google with the standard email / password combination.
Google’s senior vice president of ads and commerce, Sridhar Ramaswamy, commented “In the mobile world, more and more consumers want things to be seamless and secure. There’s a big initiative inside Google to have more consumers be logged in to be ready to initiate commerce anytime.”
Given that the mobile payments industry itself is set to hit the $3.4 billion mark by 2022, it’s easy to see why Google want a greater presence in this field, as great a presence as it could generate.
By opening up the field, it stands to make that much more cash, as long as it can keep users actually turning to its systems. Some might be concerned here by Google’s capability to protect all those credit cards tied to comparatively simple Google accounts, but that might not be the problem some might think.
The idea that someone might be able to break into a YouTube account and get a credit card number for their trouble might leave too many users gunshy. That’s strictly speculative, of course, but possible.
It will be interesting, though, to see how this proceeds. Will people jump at the chance for an impressive new level of payment convenience? Or will customers sense too much danger involved in the new connection? Only time will tell on that score, and Google may well have a big new stake in mobile payments going forward.