Google focuses on becoming a “comprehensive digital wallet” with google pay that includes digital tickets, flight passes vaccination cards, etc. For that purpose, Google has hired a former PayPal executive with plans to boost Google pay into the crypto market. Google Pay is an online payment system developed by Google to enable in-app, online, and contactless payments on mobile devices such as smartphones, tablets, and watches. Arnold Goldberg is tasked with leading Google’s payments division as part of a company-wide commitment to financial services, including cryptocurrencies. Google has been in the crypto space for quite some time and has partnered with several crypto companies.
Bill Ready, Google’s Commerce President, told Bloomberg,
“Crypto is something we pay great attention to […] as users demand and traders evolve, we will also evolve with them”
In April 2021, Google Pay announced a new partnership with the global cryptocurrency exchange Gemini. With this update, Gemini users can now buy Bitcoins using Google Pay using fiat currencies on their debit or credit cards.
The tech giant also partnered with Coinbase in June to allow exchange customers to use their Coinbase cards to pay for goods and services through Google Pay. Users can also get a crypto discount of up to 4 per cent at the time of purchase.
Furthermore, in October, a partnership between Bakkt and Google allowed exchange customers to purchase goods and services using several cryptocurrencies selected through the Google Pay wallet.