Apple and Google brands inspire nearly religious commitment among its fans, who regard comparisons between the two tech titans as apples and oranges. Our data indicate that Apple Pay and Google Pay are substantially identical offerings. Apple Pay appears to be more user-friendly, although Google Pay has a few more capabilities.
Despite being rival payment methods, Apple Pay and Google Pay have a lot in common. Both allow customers to store credit card information on their mobile devices. To disguise personal account numbers (PANs) during transactions, both use a sort of tokenization. Both make use of near-field communication (NFC), which allows customers to make transactions without physically touching retailer payment terminals.
Both payment methods are accepted at millions of venues worldwide, including businesses, restaurants, transit agencies, and college campuses. Both Google Pay and Apple Pay may be used to make online purchases directly from an app or website, handling the entire checkout process with pre-filled settings and requiring only a PIN or Touch ID to complete the transaction.
From an industry standpoint, the most significant breakthrough that mobile payment systems make is in security, and both Apple and Google use some creative approaches here.
In the grand scheme of things, there aren’t many differences between these two mobile wallets. It all comes down to whether an Apple or Android device is being utilized.
Apply Pay: Except for the iPhone 5s, this payment technology is accessible for iPhone® and iPad® devices with Face ID or Touch ID, as well as Apple Watch® (Series 1 and 2 and later). These gadgets include the relevant technology preloaded. PayPass technology allows you to add credit cards, debit cards, prepaid cards, and even shop loyalty cards.
Users can make peer-to-peer (P2P) payments via Apple Cash through the Messages app on their device, or they can ask Siri to pay someone using a credit or debit card stored in the app. They can also make in-app or online purchases wherever they see the Apple Pay logo.
Google Pay: This wallet is compatible with most NFC-enabled Android smartphones and watches, and there is also an iPhone app. When utilizing Google Pay, nearly all users must actively download the software to their particular devices.
Google Pay, like Apple Pay, allows users to upload credit, debit, prepaid, and loyalty cards. Users can send money to a phone number or email address on an iOS or Android smartphone using the Google Pay app. Google Pay, like Apple Pay, can be used for in-app or online transactions wherever the Google Pay logo appears.
About the Pros and Cons
These seemingly little distinctions highlight the significant contrasts between the two programs. Because Google acts as a middleman and maintains your card information on its servers, it is not required to make any deals with banks, and virtually any card can be added to your Google Pay.
Google Pay attempts to recreate a real wallet in the virtual world in every manner. Google tracks your purchases, saving order details as if you were stuffing the receipt into a physical wallet. Google Pay Fraud Protection policy, in keeping with its role as an intermediary, guarantees 100 percent security.
Apple, on the other hand, expressly states that it will never trace your purchases. Apple will not even save your credit card information on its servers or devices. Apple only transmits your card to the bank, authenticates with the bank, and receives and stores the DAN sent back by the bank.
Apple is not a payment intermediary, but rather a payment medium in its own right. Though fingerprint scan security and the option to remotely disable the phone provide adequate protection, if someone gains access to your Apply Pay phone, you must file a complaint with your bank, not Apple.
This strategy also necessitates Apple to negotiate deals with banks and convince them to join up for Apple Pay, a task that has limited the number of cards that can be used with Apple Pay.
Apple cannot monetize the user if transactions are not tracked, thus it levies a per-transaction fee to the banks with which it collaborates, albeit the contents of this fee structure remain unclear.
The Bottom Line – Which is Better?
Apple Pay was formerly advertised as “Your wallet. Without a wallet, “a description that, in reality, better suits Google Pay Meanwhile, Google Pay was marketed as “an easier way to pay,” which is exactly what Apple should be saying.
Both methods provide convenience and a modicum of security to the user, thus selecting between the two is primarily a matter of personal preference. Merchants who have NFC terminals can accept payments on either platform.