The Most Interesting Google Pay Statistics in 2023

1. 1. Google Pay Ranks 3rd Among Many Other Mobile Payment Methods in the US.
2. 2. Russia had an Online Usage Distribution of 35.18% on Google Pay.
3. 3. Recorded About 1,281,838 Transactions Online.
4. 4. The Service is Available in 19 Countries.
5. 5. 30% of the Active Users are Millennials.
6. 6. Google Pay is in Canada's Top 5 Online Payment Apps.
7. 7. In India, There are 67 Million Google Pay Active Users.
8. 8. Google Pay is the Primary Mobile Payment Method for 252,771 Companies Worldwide.
9. 9. Google Pay Owns 36.10% of the Mobile Application Market in India.

Google Pay is one of the many digital payments means many people use in many countries. Itboasts more than 150 million users worldwide. Now, people can perform transactions without taking cash, making spending easy. Most importantly, the platform is easy for users to navigate, leading to the widespread adoption and usage it now enjoys in many countries.

Keep reading if you already know the platform but want to know how far it has come since its launch. This article outlines significant Google Pay statistics and tells about the app's usage, adoption, and demographics of its users. It also outlined its competitors and market share amid the tough competition.

1. Amongst many other mobile payment methods, Google Pay ranks 3rd.
2. Russia has an online usage distribution of 35.18% on Google Pay.
3. Google Pay has recorded about 1,281,838 transactions online.
4. Google Pay is only available in 19 countries.
5. 30% of the active users of Google Pay are millennials.
6. Google Pay is in Canada's top 5 online payment apps.
7. There are about 67 million active Google Pay users in India.
8. Google Pay is the primary mobile payment method for 2,193 businesses worldwide.
9. Google Pay owns 36.10% of the mobile application market in India.

Google Pay is one of the most popular mobile payment software today. Recent data has shown that there are over 150 million users of the software in the world in 2023. Over 25.2 million people use the app in the United States. Also, this data cuts across 42 global markets and applies every other month.

In addition, about 800,000 websites use it as their secure payment gateway, and it is trustworthy. About 20% of every mobile purchase gets done with Google Pay, making it one of the most sort-after online financial platforms.More people are discovering the software daily, and it will get even more popular.

As you know, Google Pay is very popular and mainly in the United States. Here are other Google Pay statistics you may have yet to learn.

The Google Pay app ranks number 3% in the US financial payment service with 25%. It, however, wasn't in this position about 3 years ago. But, over the years, people in the United States started using it because of its reliability. The platform has over 25 million users in the US alone, and analysts have predicted that the number will grow in the coming year.Apart from individual users who played a big part in boosting the service, organizations and stores also use the platform. Regarding the ranking of Google Pay and other media, number one is Apple Pay, with 43.9%. The number two is Starbucks, with 31.2%, with a small gap over Google Pay occupying the third position.

The US is not the only country with high Google Pay usage. Russia was, in fact, higher than the US, with over 10% as it had 35.18%. Millions of individual users of this financial institution in Russia and thousands of organizations also use it. For instance, over 3,500 websites use Google Pay for online transactions. Stripe with 30%, Fondy with 15.63%, and Paypal with 6.56% followed Google Pay on the ranking list. However, because of payment system disruption, Russia no longer uses Google Pay for financial transactions. The dealings of the platform got paused indefinitely since March 10, 2022. There is a probability that some of the networks for international payment may not support cards for mobile wallets.

Google Pay went live in 2013 with the previous name, Android Pay. Since its inception until date, it has recorded over 1,281 838 online transactions in the world. Due to the relentless platform creators are, this number has and will see even more increment in the coming years. $25,000 is the total amount allowed on the online payment platform currently includes the reward balance people get. Also, the app has daily and monthly transaction limits and no upgrade to let you perform more than the specific limits. The limit differs due to different factors. Some countries have other transaction limits due to currency ratings. The transaction limit depends on the second-party financial institution sending or receiving from Google Pay. But generally, you cannot perform over 10 transactions in one day. With all these policies, Google Pay still got over 1 million transactions in its 10 years of existence.

Although Google Pay is a big brand that has gotten famous over the years, it doesn't operate in every country. The online payment method works online and offline in only 19 countries. But, it is available online in about 42 countries, making it even more popular. Most people not in any of these 42 countries still access it in other countries, using VPNs to alter their device location.

Also, there are even more countries you can access Google Pay from, but you won't get every feature of the platform if you are not in any of the approved 42 countries. Africans are also not exempted from the benefits of using Google Pay, as it is available in about 5 African countries.Tanzania, Kenya, Uganda, Rwanda, and Ghana are the 5 African countries that Google Pay supports. It can still work in Nigeria and a few other African countries, but some features will be restricted because of the location.

Based on the traffic data analysis on the Google Pay platform, the most active users are millennials.30% of millennials use the program for their financial transactions because it is easy to navigate. It doesn't have a complex user interface, so people in this age category don't need to learn how to use it. Further, 30% of people 59 years and above using Google actively use Google Pay are Generation Xtive users.Generation Z is into more complex financial institutions for specific reasons. So, only about 2% to 4% of them actively use the site for financial transactions.

Aside from the UK and other famous countries that use Google Pay, Canada is another considerable platform user. About 81% of Canada's population are active platform users, making it find a position in Canada's top 5 online payment apps. The program plans to dominate even more with its services. Google Pay got a chance to be one of the online financial market leaders in Canada during the pandemic from 2019 to 2020.

Canadians needed to perform commercial transactions even if they didn't always get the chance to go out. The program and the other 4 institutions served the country well and became their go-to. In 2018, Google Pay came with its name from what it used to be. Its usage skyrocketed in Canada in 2020 and 2022, with about 81% of Canadian shoppers using it.Other institutions on the top 5 list in Canada are Apple Pay, Samsung Pay, Paypal, and CIBC.

Google Pay has experienced massive growth in its niche. It had a close competitor, Flipkart-backed PhonePe, in India but left the competition behind.The financial institution grew to 55 million active monthly users in the country. Analysts predicted that it would grow to have even more active users, and it did. In late 2019, Google Pay grew about three times in 12 months in India. Its number of active users increased to 67 million people on a monthly base.The company gave this report on September 19, 2019, in its fifth annual Google for India event edition. The company is reportedly making over $110 billion annually from Indian users. In recent years Indians have increased the worth of more mobile payment methods besides Google Pay. The Reserve Bank of India reported that the economic growth in India between 2018 to 2019 was because of UPI (Unified Payments Interface) growth.

There are numerous online payment platforms in the world. Over 252,771 companies trust Google Pay, the over 3,180,777 use online payments.Even if some of them have other online payment methods they use, they all use Google Pay as their primary payment platform. The usage extends from online to offline transactions with cards.About 26.84% of these companies are in Germany, and approximately 19.70% are in the United Kingdom. The country with the lowest percentage is the United States, which has 16.98% of companies using Google Pay for transactions.There are a few more spread across other countries, and their percentages will increase as the worth of the online payment brand increases.65% of companies using Google Pay are small, earning about $50 million. 18% of such companies are medium, making over $100 million, and 9% are large companies, making over $900 million.

India and Google Pay have considerable dealings together. The company owns over 36.10% of the country's mobile application market. The growth is relatively rapid for a company that has not been around for a long time. For transaction counts alone, Google Pay owned 46.38% market share and 49.45% for transaction value. It was second in India's mobile payment platform ranking list. The company was processing UPI transactions of about 305.44 Cr, worth INR 4.83 Lakh Cr.

Google Pay has a considerable share of the world's mobile payment market. There are many other competitors, but the company ranks number 4 globally with 7.95%, followed by Stripe with 8.31%. The number 2 is Apple Pay with 12.99%, following Paypal, which is leading with 52.69%.

Google Pay is one of the most reliable online payment platforms today. It works online in many countries, even if they mostly don't have all the site's features because of geo-restrictions. The payment platform has risen to the top over the years and is unwilling to leave. The company ranks number 4 globally in about 5 years of existence, and it might move higher in the coming year.

It was founded in 2013 with a different name, Android Pay. However, later in 2018, it got rebranded and launched as Google Pay with better features. It is said that more millennials use the platform than any other age, followed by Generation X, which is true. Generation Z is gradually warming to the forum and will soon join in.

Hold and swipe the circle on the platform to Receive,' the sender will do the same, but to Send.' The sender will then click on your photo and pay you by following all the prompts on the screen.

Although Google Pay work with banks, it is not a bank. It is a mobile financial institution that operates online and offline for financial transactions.

The time frame of any transfer on Google Pay depends on the second-party payment method. If it's Google Pay, the transfer will work almost instantly. It will take a few minutes or less than 24 hours with debit cards. If it is a transfer with a bank, it will take about 3 to 5 business days.

• PhonePe, Google Pay, and Paytm Process 94% Of UPI Transactions In March 2023
• Companies using Google Pay
• Google Pay Reaches 67 Million Active Users in India Within Two Years
• Digital wallets: How Canadian merchants stand to benefit
• Google Pay usage either for online payments or at POS in various countries worldwide as of March 2023
• NALA enables Google Pay payments from the US and UK into Africa
• Google Pay
• Google Pay limits
• Changes to Google Play's billing system for users in Russia and Belarus

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