Very soon Goggle aims at giving merchants access to several credit card credentials in its database in order to hasten customer checkout for mobile as well as online payments. A Google executive earlier said this week the company is not competing with payment card network.
This new service is called Pay With Google, and could tap data from the customers Google has on file which are up to hundreds of millions, including payment card numbers as well as related information, according to head of commerce partnerships at Google, Jack Connor, the major subsidiary of Mountain View, California based Alphabet Inc.
The first time the planned feature was disclosed was among the 101 announcement which was made at the Google I/O conference for software developers in May. Connor however, said at the Mobile Payments Conference in Chicago that the service will be launched in about a month.
This new Goggle Payment application programming interface (API) is being used by Pay With Goggle. With this merchants would be able to retrieve payment credentials in a secure manner and later pass them to their payment processor or gateway, which will do the normal processing by decrypting them. The consumers who already have Android Pay tokens on their phones will see it on top of the list, but for those who doesn’t have it, cards which they have used at any Goggle property such as Play Store would be offered. The consumer won’t see a legacy order from the fill out.
The aim is to use the information on the card and other related data that Goggle has gathered from consumers for purchasing its own product as well as services, some of these services include Chrome browser, YouTube, Android Pay mobile-payments services, or from Google Play app store. With such data, merchants would be able to generate more sales by making online or mobile purchase more convenient, said Connors.
Connors said that a new customer that want to make purchase has to tap the phone several times, he or she would be putting in information such as credit card numbers and other information that are needed, not to mention typographical errors that needed to be corrected.
“it is also challenging to buy something with credit card on a mobile phone,” he said, and later added that “Conversations can be streamlined easily from any part of the world.”
Tedious checkout process can also make most people abandon their purchase which is a great fear to online and mobile merchants. Connors also said that the test with some merchant revealed that the rate of conversation improved 3.5 times by paying with Google.
The processing partner announced initially include: Stripe, Braintree, First Data, Vantiv, Adyen, Worldpay, and ACI Worldwide, and source said that many others would be updated soon. This service is free of charge. The merchant will use its existing processor to pay its contracted processing fees.
Connors also said that the model for providing payment by Amazon.com Inc. was successful because merchants concluded that it’s very easy to use the card and there is no need for customers to input personal data again because they are already with Amazon. But also said that Goggle would aim at improving the sales of merchant without making a run at Mastercard Inc. or Visa Inc. both of which offer mobile and online checkout with the aid of their respective Visa Checkout and Masterpassservices.
Apart from the main effort of Goggle with Android Pay and Pay with Goggle, they have additionally announced partnership with Visa Checkout, PayPal as well as Mastercard MasterPass.
“Presently, we’re not seeing this as a payments thing alone,” Connors informed those who attended the conference. “We are not aiming to compete with the networks. We are looking for a perfect way to work with them….we are doing it in an ecosystem friendly manner.”
Rick Oglesby who is an online-commerce payment researcher, the president of Mesa, Ariz. based AZ Payment Group LLC, said that an account on the file is necessary for the one-click checkouts, and majority of the merchants want the one-click checkout for all the customers especially the first-time customers.