Recently, Google Pay added 89 more U.S. banks to its payment services. The addition contributed to the trend of supporting more financial institutions across the country, according to a report by TalkAndroid.
Moreover, with 89 banks added to the roster, the total number of institutions now supported by Google Pay amounted to approximately 3,000. This also made Google Pay one of the most broadly supported services in terms of mobile payments.
According to the report, parties with Google Pay already had the advantage of being able to use it with major card companies and financial institutions. This included the likes of Capital One, Wells Fargo, and other major banking establishments.
It was noted that such an update was also aimed at local credit unions and smaller institutions such as local banks. This leveled out the playing field, according to TalkAndroid.
In a PYMNTS report, it was found that one of the added financial institutions pertained to Klarna. The Swedish “buy now, pay later” company arrived with merchants that included rue21, Sephora, and Journeys.
“We’re focused on providing all of our users with a seamless, contactless shopping experience as stores reopen and the pandemic continues to affect communities across the nation,” David Sykes, the head of U.S. at Klarna, said in an August 2020 statement.
Earlier this year, the company added Apple Pay to its roster, according to PYMNTS. Such an addition led to strong returns and increase of 310% in terms of some order volumes.
As technology continues to have an impact on consumer behaviours and business operations, it is important for merchants to stay in-the-know of the latest offerings and market trends. Merchant Broker is here to provide businesses with the payment processing solutions they need in order to remain innovative ahead of the competition.
To receive more information about what Merchant Broker has to offer, contact a professional representative at either 1-888-668-0733 or info[at]merchantbroker.com.