Google Pay Plans Israel Debut by Year’s End
Google Pay is setting up for a launch in Israel by the end of 2021, The Jerusalem Post reported. This follows the successful launch of Apple Pay there previously.
Earlier in September, Google Pay signed similar agreements with Bank Leumi as well as the Max credit card unit. With the agreements, along with others set up to follow, Google Pay digital wallet users will now be able to pay via cellphones at stores with contactless EMV payment terminals set up, according to the report.
Around two-thirds of Israel’s payment terminals support the standard launched there last November. About 60% of the transactions around the country use it, according to the Bank of Israel, per the report. Every Israeli credit card issued for the last few years is working with the EMV standard, and payments can be made via apps on NFC-enabled Android devices running version 5.0 or higher, iPhone 6 or higher, and any Apple Watch.
Those using the cellphones can make payments in stores or online, the report stated.
Apple Pay, which launched in Israel in May, has seen a huge surge in growth and has registered “hundreds of thousands” of users, according to the report. Digital wallet apps in Israel have massively increased because of Apple Pay’s rollout.
Google Pay, meanwhile, has around 150 million users, the report stated.
Although Android users have had digital wallets available from major credit card issuers, Google’s entry to the market is likely to generate more excitement for the tech, according to the report. Around 70% of Israel smartphones use Google’s Android platform.
In other news, app stores have seen backlash as South Korea looks to block Apple and Google from automatically assessing commissions on in-app purchases. South Korean developers paid over $1.7 billion to app store operators in 2020.
Read more: South Korea Could Kick-Start Global Boycott of App Store Commission