Google Pay Statistics (23 Fun Facts, Trends + Statistics)
Subsidiaries disclose: We may receive commissions for links in this article.
You may have heard of Google Pay before because it’s one of the most famous digital wallets available, but how much do you know about Google Pay, like trends or cool facts?
I’ve been thoroughly researching the best Google Pay stats and have found some I’d like to share with you, so read on to find out what I’ve found!
Google Pay Statistics 2022
Google Pay is one of the leading mobile payment methods in 2022. In addition, nearly 800,000 websites use Google Pay, with about 20% of mobile transactions using digital payment methods. Of the 19 countries where Google Pay is used, it is primarily used in stores in India and Russia.
Do you want to know more of the best Google Pay stats and facts, or have other questions you’d like answered? If so, read on to learn more!
1. India and Russia dominate Google Pay in-store payments
When it comes to in-store payments, India dominates the Google Pay market, but Russia also uses Google Pay heavily, and both use Google Pay more than Americans.
2. Google Pay is one of the leading mobile payment methods
One of the leading mobile payment methods is Google Pay; while Apple Pay is responsible for 92% of mobile wallet transactions, Google Pay still lags behind!
3. Google Pay is least used for food and beverages
Only 2.68% of Google Pay purchases were food and beverages, with “Other” accounting for over 82% of the response category.
4. Over 1 million sites accept Google Pay
Google Pay is popular online, with more than a million sites around the world accepting Google Pay, and this trend is likely to continue for years to come.
5. Over 790,000 sites in the US accept Google Pay
In the U.S., more than 790,000 websites accept Google Pay, and that number is expected to continue to rise as more people turn to digital wallets.
6. 21% of transactions in 2020 were made using digital wallets
An interesting statistic in 2020 is that 21% of all transactions are made through digital wallets including Google Pay.
7. Millennials are most likely to use Google Pay
One Google Pay statistic that shouldn’t surprise you is that millennials are the age group most likely to use Google Pay.
8. Google Pay is the mobile payment option for Android
While this should be common sense, one thing some people don’t understand about Google Pay is the fact that it’s a standard Android mobile payment option.
So if you have an Android device, Google Pay is already pre-installed on your device, ready to use!
9. Google Pay transaction volume run rate was $110 billion in 2019
An interesting fact that I found was that the Google Pay transaction value in 2019 had a run rate of $110 billion.
10. South Africa least likely to use Google Pay
Did you know that Google Pay isn’t popular everywhere and South Africa is the least likely country to use Google Pay? It’s not as popular as in the US or other countries!
11. Mobile wallets will exceed $80 billion by 2026
A common fact, including Google Pay, is that the mobile wallet industry is expected to exceed $80 billion by 2026.
Furthermore, if the popularity of mobile wallets continues to increase among younger and older generations, this figure could be much higher than estimated.
12. Google Pay ranks third in US mobile payment market share
In the U.S. mobile payments market share, Google Pay is third, with Apple Pay taking the largest market share, followed by Starbucks.
The most shocking thing about this statistic, however, is that Google Pay is behind Starbucks in mobile payments market share.
13. Google Pay has 36.11% market share in India
Google Pay is very popular, did you know that Google Pay has a 36.11% market share in India?
14. Google Pay has about 100 million users
Based on 2020 figures, Google Pay is estimated to have around 100 million users, which is not bad, but significantly lower than Apple Pay, which has 507 million users.
15. 27% of online sales are mobile payment fraud
Online sales have been a booming business over the past few years, but 27% of online sales are mobile payment fraud.
Also, this amount of fraud is an alarming statistic and I hope it doesn’t get any worse!
16. 70% of Americans are skeptical of mobile payments due to fraud risk
Fraud remains a big problem with mobile payments, with one study showing that 70% of Americans are concerned about using them due to the associated fraud risks.
However, as mobile payments and digital wallets become more popular, fewer and fewer Americans are expected to be cautious and use them to make purchases at some point.
17. Google Pay is expected to add 10.5 million users by 2025
Google Pay is expected to add about 10.5 million users by 2025, which is nowhere near as fast as Apple Pay, but it shows a steady upward trend for Google Pay over the next few years.
18. 69% of retailers now accept contactless payments
Contactless payments are becoming more common, and one indicator of this trend is that 69% of retailers now accept contactless payments.
Additionally, this number is expected to soar even higher in the next few years as traditional credit and debit cards become less frequently used, especially online.
19. Google Pay launched in 2011
Google Pay was first released in 2011, although it was called Google Wallet when it was first released in May 2011.
Also, the name was changed to Android Pay in 2015, and then again to Google Pay in 2018.
20. Google Pay uses NFC technology
NFC technology is the technology behind Google Pay, which stands for Near Field Communication and is the main technology behind contactless payments.
21. Google Pay has no card restrictions
The great thing about Google Pay is the fact that you may not know it, this digital wallet has no card limitations.
Plus, you can store as many cards as you want in your Google Pay wallet and use whichever one you want for all the different transactions.
22. Google Pay integrates with multiple banking apps
Google Pay has been integrated with several mobile banking apps, allowing users to easily send and receive payments.
Additionally, more mobile banking apps integrate with Google Pay and other digital wallets, giving customers more freedom and choice.
23. Google Pay provides multiple layers of security
Google Pay uses NFC technology and utilizes various layers of security, so no matter where you want to shop, your information is protected.
For example, Google Pay uses an encrypted code sent to the merchant instead of your credit or debit card information.
How popular is Google Pay?
Google Pay has around 25 million active users in the US and around 100 million globally, but Apple Pay has 507 million users worldwide.
Additionally, out of 507 million users worldwide, more than 43 million Apple Pay users are in the United States.
So it’s safe to say that Google Pay isn’t that popular, although it does have a slight edge over other options like Samsung Pay.
How many countries use Google Pay?
Google Pay is currently available in 42 countries, with this number expected to increase over time.
Which is better, PayPal or Google Pay?
PayPal is the better choice as it is accepted globally and available for both iOS and Android users.
Also, international money transfer and e-commerce sites accept PayPal more often than Google Pay, so there are fewer restrictions on where you can use it than with Google Pay.
What are the disadvantages of Google Pay?
Before you decide to use this mobile wallet, you should be aware of some trivial downsides of Google Pay, including:
- Not accepted anywhere, either in-store or online
- Older phones don’t have NFC
- Concerns about fraud risks
- Small retailers may not use Google Pay
To learn more, you can check out our posts on whether Walmart accepts Google Pay, Wendy’s accepts Google Pay, and Home Depot accepts Google Pay.
in conclusion
Some interesting Google Pay stats include that Google Pay has around 100 million users, with India being the most used place for in-store payments.
Additionally, by 2025, Google Pay should add about 10.5 million users, with over 1 million websites accepting Google Pay as a payment method, with over 790,000 in the US alone!
However, 70% are concerned about the fraud risks associated with mobile payments, although millennials are the group most likely to use Google Pay and other digital wallets.
