Mobile wallets like Google Pay offer convenience to customers and businesses alike. Google Pay makes for secure and speedy transactions that move lines along, all while being a completely contactless solution. That makes for a happier, more hygienic shopping environment all the way around.
While Google Pay is far from the only mobile payments provider out there, Google Pay is expected to add more than 10 million customers in the next five years. As mobile payments become more and more popular, adding them to your checkout is a must-do. Here’s how to accept Google Pay the easy way.
What is Google Pay?
Google Pay began as Google Wallet, which was a peer-to-peer payment portal similar to PayPal and Venmo. At that time, Android Pay was the go-to mobile wallet for android users, comparable to Apple Pay. In 2018, Google Wallet and Android Pay merged, creating the Google Pay solution that we know today with millions of users.
Google Pay is easy to use for customers; they simply need to put the Google Pay app on their phone and add their credit or debit card information. The app securely stores their payment information and allows them to select from any card in their virtual wallet next time they want to pay using Google Pay online or in-store.
Once they get up to the checkout counter, they simply hold their smartphone or smartwatch near your NFC-enabled hardware and, within seconds, the transactionAn act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder’s promise to pay for goods or services received from the act. The action between a cardholder and a merchant that results in financial activity between the merchant and cardholder’s account.... will be approved and completed. No signing, pinPersonal Identification Number used by a cardholder to authenticate card ownership for ATM or debit card transactions. The cardholder enters his/her PIN into a PIN pad. The PIN is required to complete an ATM/debit card transaction. code, or touching is necessary; it’s convenience at its finest.
How to Accept Google Pay Step-by-Step
Google Pay is strikingly similar to Apple Pay, and it’s often considered one of Apple Pay’s biggest competitors. Fortunately, businesses don’t have to choose. If you set your business up to accept Google Pay, you’ll be halfway there to accepting Apply Pay, too. Here’s how to accept Google Pay with ease.
Step 1. Set Up Google Pay
Before you can begin accepting Google Pay from your customers, you’ll need to create a business account within the Google Pay platform. To set up a Google Pay business account, you need a Unified Payments Interface ID (UPI ID). If you do not have a UPI ID, contact your business’s bank, and they should be able to issue one to you.
Once you have a UPD ID, you’ll need to connect your business account to a Gmail account. You can do this using a personal Gmail account, but it’s best to set up a dedicated Gmail account for your business. When you sign into that Gmail account, Google will walk you through a series of prompts to collect more information about your business, like your company name and phone number.
Step 2. Verify Your Virtual Payment Address
Before you start using Google Pay, Google will verify your virtual payment address by sending a small amount of money to your connected bank account. You’ll need to complete the verificationThe point in which the lease company verbally verifies (confirms) with the merchant that the equipment has been delivered and that they understand the lease terms in full. process by entering the exact amount of that small deposit into the Google Pay verificationThe point in which the lease company verbally verifies (confirms) with the merchant that the equipment has been delivered and that they understand the lease terms in full. screen.
It may take up to a few days for the verificationThe point in which the lease company verbally verifies (confirms) with the merchant that the equipment has been delivered and that they understand the lease terms in full. transactionAn act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder’s promise to pay for goods or services received from the act. The action between a cardholder and a merchant that results in financial activity between the merchant and cardholder’s account.... to appear in your bank account. If you do not see the transactionAn act between a seller and a cardholder that results in either a paper or an electronic representation of the cardholder’s promise to pay for goods or services received from the act. The action between a cardholder and a merchant that results in financial activity between the merchant and cardholder’s account.... in your account, verify that you entered the correct details. If you make an error, you’ll need to update your application and resubmit it. You can always contact Google Pay support for guidance.
Step 3. Wait for Approval
After verifying your virtual payment address, you will need to wait for approval from the Google Pay team. Approval can take up to five business days. You’ll get an email once your account is approved.
On rare occasions, an application may be declined. If this happens, Google will likely require additional information to verify your business before they can proceed. Reach out to the support team so that you can re-open your application and try again.
Step 4. Upgrade Your Point-of-Sale System
Once your Google Pay business account is approved, you’re officially ready to start accepting Google Pay, so long as your hardware is up-to-date. To accept Google Pay or any other mobile wallet as payment, you’ll need a Point-of-Sale (POSThe time and place a sale takes place. Also refers to the devices used to transmit the credit card transaction.) system that advertises “tap-to-pay” or “tap-and-go” compatibility.
If your existing POSThe time and place a sale takes place. Also refers to the devices used to transmit the credit card transaction. system is not compatible with mobile wallets, you can upgrade with ease. Contact NMA if you’re interested in learning more about upgrading your hardware while enjoying minimal fees for your small business.
Step 5. Add Google Pay to Your Online Store
The process is similar if you want to accept Google Pay for your online store. You’ll need to complete steps one through four as previously described and ensure that your website has the Google API enabled. If you’re running on Shopify or BigCommerce, they have extensive guides to help you with this part of the process. You must also use a compatible payment gatewayA payment gateway is a combination of hardware and software that provides merchants with the ability to perform real-time credit card authorizations from a website over the Internet. It’s the link between a merchant website and the processor..
The good news is, even though the initial setup process for an online store can be daunting, Google Pay will prove quick and easy for your customers, and it won’t cost them any extra fees when shopping online.
Understanding MerchantA business that accepts credit cards for goods or services. Fees
Accepting Google Pay is incredibly convenient for your customers, and it can offer plenty of advantages for your business, too, like speeding up checkout lines. On top of that, you’ll be thrilled to learn that you won’t pay any additional fees for accepting Google Pay. However, card networks treat Google Pay payments as card-presentA situation where the cardholder (and the card) is physically present at the time of purchase. transactions.
Accepting Google Pay certainly won’t cost you any more in fees as a merchantA business that accepts credit cards for goods or services., but it won’t save you any money, either. If you’re finding that your merchantA business that accepts credit cards for goods or services. account fees are a little tough to chew with an average of up to 3.5%, it might be time to consider a new solution. At National Merchants Association, we believe that businesses of all sizes deserve to keep more of their profits in their pockets.
About NMA
NMA is a merchantA business that accepts credit cards for goods or services. advocacy group dedicated to reducing or eliminating the unnecessary fees associated with accepting credit card payments. Since 2004, NMA’s payment processing solutions have delivered tailored solutions, best-in-class customer service, and high-quality service offerings for businesses across multiple industries. Whether it’s high-risk or low-risk, brick-and-mortar or e-commerce, NMA will create the best processing experience for your company.
For more information, visit us at our legacy.nationalmerchants.com or by calling (866) 509-7199