Google Pay’s Brazil launch opens e-commerce to debit card users
Online giant claims it has countered beaten fraud problems and hopes to boost Android phone sales
Google is launching its digital wallet Google Pay in Brazil, allowing more online shoppers to use debit cards.
Most online retailers in this region take only credit cards, because of a higher risk of fraud with debit cards. As Google’s online payment system accepts debit cards, the online giant will be able to tap into a whole new market.
It also hopes to increase sales of its Android phone according to Joao Felix, who manages Google Pay in Latin America.
Brazil has one of the world's worst problems with online fraud, particularly in e-commerce. Google claims it has tackled this problem – although has not revealed how. Felix said Brazil has 60 million debit card holders and 50 million credit card holders.
Banks that allow customers to use Google Pay’s debit card function include Mastercard, Visa, Banco do Brasil SA, Banco Bradesco SA and Itau Unibanco Holding SA. A number of e-commerce platforms have also come on board, such as the delivery apps Rappi and iFood.
Google will not charge retailers, card issuers or card processors for using Google Pay.