Can Google become another vehicle of cryptoadoption?
Mobile payments market is not an easy one, and even such giant as Google had to fight for its place under the sun. ?
Launched in 2015, it was slower in attracting users than Apple Pay, its main competitor, which lead the company to reconsider its design in the end of 2020, adding personalized offers, expense tracking and google shopping.
Last year the company continued exploring new ways of attracting users, tapping into the crypto audience: it partnered with the exchanges Gemini, Coinbase and Bakkt, allowing either buying crypto on the exchanges using Google Pay, or paying for goods and services using Google Pay connected to an exchange’s card (so that crypto is debited from the client’s account and converted to fiat paid to a merchant).
More of such partnerships are to come. ? This week Google announced the hire a former PayPal executive to continue Google Pay expansions, notably into the crypto world (PayPal being no stranger to crypto itself). In the meantime, Google’s President of Commerce confirmed that “crypto is something we pay a lot of attention to”.
Although not the most popular payment app globally, Google Pay still counts approximately 150M users, of which the biggest share is from India, a country where crypto is very popular (it is ranked 2nd in Chainalysis Global Cryptoadoption Index).
Another company making crypto use easy in everyday life is certainly a good thing ?