December 3, 4:42 pm
As one of the top five mobile payment services, Google Pay made 26% of all online transactions last year. Today, more than 150 million users across 42 markets use Google's mobile payments service to manage their payments with one tap and swipe. But in some countries, the app is used much more than in others.
According to data presented by AtIndex.com, Google Pay is used more for payments in India and Poland than in the United States or the United Kingdom.
Over the past five years, more than one billion people have started using mobile POS payments, pushing the total number of users to a massive 1.6 billion in 2023. As one of the top five service providers in the market, Google Pay has had a massive role in this growth.
Although still far behind the giants Alipay and WeChat Pay, which have hundreds of millions of users, mainly in the Asian Pacific markets, Google Pay has also gained immense popularity. But the regional differences are still high.
According to Statista's Consumer Insights, India is undoubtedly Google Pay's number one market. The survey, conducted among 12,000 consumers in 19 countries between October 2022 and September 2023, showed that eight out of ten Indians regularly use Google Pay for online or POS payments, much more than in any other country. Far below, Poland ranked second, with around 35% of its consumers using the app. Surprisingly, some of the world's most developed countries, like the United States, Germany and the United Kingdom, were far below these figures.
Statistics show that around 33% of Americans use Google Pay to manage their payments, nearly three times less than in India. On the one hand, that doesn't come as a surprise considering the huge number of iPhone users in the country and 58% of consumers who use Apple Pay.
The United Kingdom is also far behind India in Google Pay usage, with only 25% of its consumers regularly using the app. According to Statista, Britons are still quite conservative when managing their payments, with nearly two-thirds of consumers preferring debit and credit cards. Germany has even less Google Pay users than these countries, with only 31% of consumers using the app for POS payments and 16% for online payments.
While the Western countries lag behind India and Poland in using Google Pay, these countries still have between 20% and 30% of consumers who use the app for POS and online payments. But that's not the case in Japan, the country with the least Google Pay users, according to the survey.
Statistics show that only 4% of Japanese used the app for POS payments last year and literally none for online payments. Austria was also at the back of the list, with 15% of consumers using it to manage their online and point-of-sales purchases.
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The information provided by AltIndex is solely for informational purposes and not a substitute for professional financial advice. Investing in financial markets carries inherent risks, and past performance doesn't guarantee future results. It's crucial to do your research, consult with financial experts, and align your financial objectives and risk tolerance before investing. AltIndex creators and operators are not liable for any financial losses incurred from using this information. Users should exercise caution, seek professional advice, and be prepared for the risks involved in trading and investing in financial assets, only investing what they can afford to lose. The information in this application, derived from publicly available data, is believed to be reliable but may not always be accurate or current. Users should verify information independently and not solely rely on this application for financial decisions. By using AltIndex, you acknowledge that it doesn't offer financial advice and agree to consult a qualified financial advisor before making investment decisions.
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