The first debit cards were introduced in the late 1960s, although it took many years until they became commonplace.
For a long time it seemed that debit cards were here to stay.
However, in the last few years mobile payment platforms, like Google Pay have become increasingly popular.
It’s not really surprising, according to the latest research 6.92 billion people have smartphones.
Considering there are 8 billion people living on the planet, that’s 86.11M of the population.
As you carry your smartphone with you everywhere, it makes sense to use it to pay for things.
You only have to look at the following Google Pay statistics to see how popular it has become.
- 1 Key Statistics
- 2 Top Google Pay Usage Statistics in 2023
- 2.1 1. There Are Over 150 Million Google Pay Users
- 2.2 2. 25.2 Million Users Are In The US
- 2.3 3. Google Pay Processed One-And-A-Quarter Million Online Transactions
- 2.4 4. Approximately 20% Of Mobile Purchases Are Made With Google Pay
- 2.5 5. Google Pay Can Be Used In 19 Countries
- 2.6 6. 30% Of Google Pay Users Are Millennials
- 2.7 7. India Is the Biggest User Of Google Pay In-Store
- 2.8 8. 27% Of In-Store Purchases Are With Digital Wallets
- 2.9 9. 41% Of E-Commerce Transactions Use Digital Wallets
- 2.10 10. In The First Quarter 2021 Google Registered $53.31 Billion In Revenue
- 3 How To Use Google Pay
- 4 Risks With Google Pay
- 5 Summing Up
- There are over 150 million Google pay users
- 25.2 million users are in the US
- Google pay processed one-and-a-quarter million transactions
- Approximately 20% of mobile purchases are made with Google pay
- Google pay can be used in 19 countries
- 30% of Google pay users are millennials
- India is the biggest user of Google pay in-store
- 27% of in-store purchases are with digital wallets
- 41% of e-commerce transactions use digital wallets
- In the first quarter 2021 Google registered $53.31 billion in revenue
Top Google Pay Usage Statistics in 2023
1. There Are Over 150 Million Google Pay Users
Digital wallets are still relatively new, although rapidly gaining popularity.
As of 2021, Apple Pay had approximately 250,000 users and Google Pay had 150 million.
It’s small compared to the number of people online.
However, it’s estimated that those figures will be double that in 2023.
Apple Pay is set to reach 500 million and Google Pay at least 300 million users.
That illustrates how quickly this trend is growing.
2. 25.2 Million Users Are In The US
Interestingly, of the current 150 million users, just 25.2 million of them are in the US.
As strange as it may seem for an American company, the biggest customer base isn’t in the US.
Google Pay works in 42 different marketplaces across the globe, it’s a secure gateway on roughly 800,000 websites, and is considered a safe option in many areas.
That’s why it is so popular and this popularity will grow.
However, the uptake in the US is slow, in the US finance sector Google Pay ranks in 191st place. It’s even worse in Canada where it ranks 3,864.
In short, there is plenty of room to grow.
3. Google Pay Processed One-And-A-Quarter Million Online Transactions
Purchasing items online has become increasingly popular. It’s convenient and generally very fast.
Of course, this has led to intense rivalry between the different online payment services.
Apple Pay is currently leading the field, but Google Pay is a close second.
They processed roughly one-and-a-quarter million transactions out of the recorded five million in 2021.
That equates to a 26% share of the market.
Impressive for a payment option that was only relaunched in 2020. Prior to that it was mainly used for mobile payments.
This figure is likely to go upwards.
4. Approximately 20% Of Mobile Purchases Are Made With Google Pay
Unsurprisingly, considering Google Pay’s market share, a large chunk of purchases are made with Google Pay.
When considering mobile purchases, Google Pay has become a preferred option.
In 20% of cases mobile purchases are made with Google Pay.
Although it faces strong competition from Stripe, Apple Pay, Paypal, and even Samsung Pay, Google Pay’s reputation is helping to ensure it remains a market leader.
5. Google Pay Can Be Used In 19 Countries
Country numbers can vary according to global events, such as wars and natural disasters or government changes.
Currently, there are 19 countries, out of 195, that accept Google Pay.
Apple Pay has managed to establish a presence in 27 countries.
Countries Google Pay is available in include Australia, Belgium, Brazil, Canada, Croatia, Czech Republic, France, Germany, India, Italy, Japan, New Zealand, Poland, Spain, Sweden; The UK, The United States, and more.
At the moment it is not available in Russia or Ukraine due to the ongoing war, but it is usually accepted.
It’s worth noting that nearly 4,000 websites in Russia usually use Google Pay.
6. 30% Of Google Pay Users Are Millennials
Millennials, that’s people born between 1980 and 2000, are the generation that have been brought up with the internet as a constant backdrop.
They are accustomed to digital revolutions and adapting to new technology.
As such, it’s not surprising that they have adapted to digital wallets the fastest.
Recent surveys showed that 30% of Google Pay users are Millennials.
The same survey shows 15% of Generation X, the older generation, uses Google Pay.
Impressively, 10% of Google Pay users are over 59, proving you’re never too old to adapt to new technology.
7. India Is the Biggest User Of Google Pay In-Store
India is a rapidly growing market. It has the largest population in the world and is likely to be the largest economy in the future.
The fact that the number of people using Google Pay in India has tripled is a sign of its growing prosperity.
Records show in 2021 India recorded 25,478 real-time payment transactions.
In contrast, the US recorded just 1,219!
There are 67 million Google Pay users in India and the number is growing daily.
This is definitely a market worth watching.
8. 27% Of In-Store Purchases Are With Digital Wallets
While the internet is fast, convenient, and available all the time, there are times when a physical store is the only option.
However, as smartphones have got larger it can be cumbersome to carry a phone, wallet, and various other paraphernalia.
Instead, many consumers are choosing to carry their phones and buy things in-store with their digital wallet.
Thousands of stores accept this payment method and the number is growing daily.
That’s why 27% of in-store purchases are now made with digital wallets.
9. 41% Of E-Commerce Transactions Use Digital Wallets
The global pandemic caused a massive switch from physical shopping to online shopping.
For many people there was no other choice.
Although the pandemic has passed, this trend has continued and more people than ever before are choosing to shop online.
This has led to a massive increase in e-commerce transactions.
While paying is possible by debit or credit card, many internet users are finding it faster and simpler to pay via a digital wallet.
Current statistics show 41% of e-commerce transactions are completed with digital wallets.
Google Pay is definitely benefitting from the trend, and is likely to continue doing so.
10. In The First Quarter 2021 Google Registered $53.31 Billion In Revenue
This revenue comes from all the different Google sites.
It’s not possible to identify exactly how much comes through the commission they charge for using Google Pay.
However, it does show the sheer amount of money being funneled through one company and the power it wields over the market.
Google’s revenue has been steadily increasing for years, Google Pay is likely to cause several jumps as digital wallets become increasingly commonplace.
How To Use Google Pay
Not everyone has switched to a digital wallet yet.
As the number of stores offering it as an option increases, the number of users will also increase.
Fortunately, it’s easy to get started with Google Pay.
Make Sure Your Phone Has NFC
You can use Google Pay online without your phone. However, if you want to use it in stores you’ll need to make sure your smartphone has NFC.
This is essential to transmit the payment information to the card reader.
If your phone doesn’t have NFC you’ll only be able to use the app online.
Next, go to the Google Play store, search for Google Pay, and then download the app.
It’s free and takes just a few minutes.
To use Google Pay your phone will need to be using at least Lollipop 5.0.
In order to use the contactless feature and add/find cards, you’ll need at least Nougart 7.0.
Create An Account
Before you can use the app you’ll have to create your account and set it up.
If you already have a Google account then you can use this.
But, your account must be registered in your proper name and you must be old enough, according to the rules of the country you live in, to use the app.
If you have multiple Google accounts you’ll need to choose one to register with the account.
Create A Screen Lock
The next step is to add a screen lock to your phone.
You should already have one for your phone as it protects your data.
It’s obligatory to have one for Google Pay, it ensures other people can use your account and pay for things without your knowledge.
The app will prompt you to create a screen lock.
You can choose from a standard PIN, a pattern, password of your choice, your fingerprint; face recognition, or even an iris scan.
Of course, your phone will need to support the biometric safety features.
The data on your app will now be safe, allowing you to add your bank cards.
In Google Pay you’ll find a Google Wallet link.
Open this then select the add to wallet option. (It’s a plus sign).
Select ‘payment card’. You’ll see a list of cards on your app.
Select the ‘add new’ option and enter your card details. Double check them to ensure they are correct then press save.
You can then repeat this for each card you wish to add. Be sure to name them clearly so you know which card you’re using.
Click on verify and you’ll get a confirmation code by email or text.
Enter this into the device and your card is confirmed and ready to use.
Now that you have a card, or more, in your digital wallet, you’ll want to test it.
Try doing this at a local store, preferably where they know you; It will remove the stress.
In essence, you open the app on your phone with your chosen passcode, select the card you wish to use, then hold the phone to the contactless screen.
It’s certainly good to practice with your normal bank cards handy, just in case you’ve forgotten to set something up properly!
Risks With Google Pay
While Google Pay is an excellent option you should note it isn’t accepted everywhere.
In other words, always have an alternate payment method, just in case.
It’s also essential that you have a passcode for your phone and a separate one for Google Pay.
Change them regularly and don’t share them with anyone, that will make it harder for anyone to use your Google Pay account.
The other major risk is if your device is stolen. Provided it’s locked the thief will be unlikely to access your pay data.
However, you will need to act quickly and alert the relevant financial institutions.
That will prevent you from being liable for any funds spent by the phone thief.
Google Pay is a popular option in the US. However, it seems to be even more popular in a variety of countries across the planet.
That makes it an attractive option for anyone looking to start using a digital wallet.
It’s widely accepted, works with Android phones, and its network is likely to grow dramatically in the next few years.
The above Google Pay usage statistics confirm this.
It’s likely to be available in many more countries and be usable with thousands more physical stores.
It’s just a matter of time before the conventional debit card stops being used.
Alongside that, Google Pay offers a variety of perks.
In short, it’s worth creating an account today and joining the digital revolution.