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Google Pay Bolsters Mobile Payment System With New Bank Additions









Digital wallet platform Google Pay has expanded access to include more than 80 banks in Switzerland, as well as financial institutions in Australia, Bulgaria, Chile, Greece, Italy, Romania, Singapore and Ukraine, according to a Monday (Sept. 20) report from Android Police. 

In addition to beefing up the number of financial institutions that can use the mobile payment system, Google Pay users in Singapore can send and receive payments to other users, according to the article. Until recently, this feature was only available to Google Pay users in the U.S. and India. 

Monday’s news comes on the heels of a PYMNTS report noting that Google Pay would launch in Israel by year’s end.  

Read more: Google Pay Plans Israel Debut by Year’s End 

Earlier this month, Google Pay signed similar agreements with Bank Leumi, as well as the Max credit card unit. With the agreements, Google Pay users are now able to pay via cell phones at stores with contactless EMV payment terminals set up.  

As Google Pay use continues to surge, governments are grappling with the best way to overhaul infrastructure for financial regulation, according to PYMNTS. The Australian government is looking at how to enable stronger oversight of digital wallets and payments from Google, as well as Apple, WeChat and others. Australia processes roughly $650 billion worth of transactions daily, which includes about 55 million payments that rely on the network being safe, fast and efficient, according to PYMNTS. 

See also: Australia Mulls Regulations for Apple Pay, Google Pay, Other Big Tech Players 

In addition to more banks including access to Google Pay, last month cryptocurrency services provider BitPay announced that U.S. BitPay pre-paid Mastercard holders could add their cards to Google Wallet and spend their Bitcoin and other cryptocurrency on contactless purchases in the app, online and in person with Android devices using Google Pay. 

Related: BitPay Adds Google Pay to Wallet App 




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