Google recently announced that “it is merging all the different payments services it offers, including Android Pay and Google Wallet, into a single brand: Google Pay.” This is great news for businesses and individuals that use each platform and should make it easier to accept mobile, tablet, and computer payments in a single combined way. Google Pay is currently available with Airbnb, Dice, Fandango, HungryHouse, Instacart, and other apps and websites.
How will this affect small businesses? Well having a single payment option for multiple payment types is a huge positive. Currently, my company uses multiple payment solutions for our business (checks, online payment, mobile, etc). Cutting a payment type and increasing payment efficiency is always welcome for small businesses that need time to focus on other needs that will help to grow the company.
The cashless economy is growing and the streamlined Google Pay solutions is just one more example of this. If you’re not accepting online or mobile payment, you need to.