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Apple Pay Might Be Saving Google Wallet

Google Wallet use is up 50%, according to a new report.

Apple Pay Might Be Saving Google Wallet
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Here’s an interesting bit of news worth chewing on. Google Wallet, the mobile payment system launched in 2011 that we last saw treading water, is experiencing something of a resurgence. And Google can thank Apple.

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Ars Technica reports that Google Wallet use surged since Apple Pay debuted last month, with weekly transactions up 50% overall. According to a source familiar with Google Wallet’s inner workings, new users signing up for Google Wallet have nearly doubled compared with the month prior.

It’s tough to tell how many Google Wallet users there are. Google doesn’t release download figures, but estimates peg it anywhere between 10 million to 50 million, which doesn’t tell us much about activations or actual usership.

Google Wallet user estimates, per the Guardian

NFC payments, though, are facing a rising tide of enemies, including a consortium of retailers like Walmart, Best Buy, and CVS, who may be contractually obligated to use another digital payment platform called CurrentC, which hasn’t even launched yet. But Apple Pay, which recently flaunted 1 million activations within a few days of going live, looks like it should be just fine.

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Maybe Google Wallet will be, too.

[h/t: Ars Technica]

About the author

Chris is a staff writer at Fast Company, where he covers business and tech. He has also written for The Week, TIME, Men's Journal, The Atlantic, and more

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