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  • Google Pay Hemorrhaging Talent

    Google Pay Hemorrhaging Talent

    Google Pay is losing talent, in the form of both executives and employees, as the division struggles to gain ground.

    The FinTech market is one of the hottest in the tech industry right now, but Google seems to be struggling with its Google Pay division. According to Business Insider, team members are frustrated with the slow progress of the company’s app development.

    It seems the departure of Caesar Sengupta, a senior executive in charge of payments, was the tipping point for many employees and executives. Since that time, at lease seven director or vice president-level leaders have left the team.

    “There’s been an exodus,” one person told BI. “I think Caesar leaving was the breaking of the dam.”

    Another person said that roughly half of the employees for the Google Pay business-development team have left.

    “Caesar leaving was the capstone on a lot of frustration felt by employees,” this person said. “The product wasn’t growing at the rate we wanted it to.” 

    The news is troubling for Google efforts in the field, and the company will clearly need to do something to right the ship.

  • Google Preparing Debit Card to Compete With the Apple Card

    Google Preparing Debit Card to Compete With the Apple Card

    Following the success of the Apple Card, Google is preparing its own debit card.

    According to TechCrunch, Google is developing both a virtual and physical debit card. Unlike the Apple Card, which is a credit card backed exclusively by Goldman Sachs, Google’s debit card will work with an array of banks.

    TechCrunch’s source said the card will be linked to a Google app, providing an easy way to monitor balances, purchases and more. It could also substantially beef up Google Pay, which is currently restricted to online and peer-to-peer payments. TechCrunch’s source provided photos, as well as proof they came from Google.

    If true, the news is the latest example of a major tech company moving into the financial market. Tech companies are eager to offer financial services, and tie-ins to their core products, in an effort to keep customers firmly rooted in their ecosystems.

    Given Google’s past privacy issues, however, the company may have its work cut out convincing individuals their data and privacy will be respected.

    Image Source: TechCrunch

  • PayPal Will Soon Integrate More Payment Options Into Google Services

    PayPal Will Soon Integrate More Payment Options Into Google Services

    Google’s rebranding of Google Pay this year was done to make twofold transactions go more smoothly. Now, the company is integrating PayPal into the mix. This will enable PayPal users to pay bills and make purchases without having to log in or out of Google services.

    The integration between Google and PayPal will go live later this year. It will cover any services and apps using Google Pay, like Gmail, the Google Store, and YouTube and will also work with peer-to-peer transfers.

    The two companies working together is not new. PayPal has already been a payment option for Google Play since 2014 and in online and in-store transactions that are handled by Google Pay since 2017. Google is also working with other payment partners like Braintree, Cybersource, Mastercard, Stripe, and Visa.

    The expanded relationship between Google and PayPal will undoubtedly benefit the two companies. For the former, it will mean a reduction of users leaving the site just to complete a transaction, a move that more often than not results in abandoned purchases. This will also give buyers more payment alternatives, ensuring that more sales are completed. As for PayPal, the union will also give its members an incentive to use its services to buy things, thereby leading to higher transaction revenue.

    This partnership also underlines the changes and challenges happening to online payments. A large number of consumers are already willing and ready to pay for services and items online. The problem is that with so many payment options and shops, it’s difficult to keep consumer interest. The challenge now for app publishers, shop owners and platform owners is how to keep people engaged in the product and not migrate to another site.

    The solution is to introduce services where payment transactions are already enabled at the point that they’re needed with minimum fuss. This means no jumping to another site or app, no logging in several times or taking additional steps just to finalize a payment.