Google made three significant payments-related announcements during its I/0 Conference on Wednesday, revealing a one-click purchase function for Google Wallet, an “instant buy” feature for Android and payments integration with Gmail.
Google Wallet’s one-click purchase functionality is designed to battle shopping cart abandonment, and is likely meant as direct competition for PayPal, as TechCrunch notes. The feature is being worked into Chrome browsers, and is also being made available as an API for eCommerce websites to add tocheckout pages.
The Instant Buy feature is meant for Android devices, allowing users to store payments information in the device to speed up the checkout process. Google Wallet announced partners such as Airbnb, Expedia,Fancy, Priceline, Rue La La, Uber and others at launch, as TechCrunch notes.
The Gmail integration allows users to send money to others via email, even if the recipient of said transfer does not have a Gmail account. In a blog post, Google says the transfers are free if done via a linked Google Wallet account, and come with “low fees” (2.9 percent per transaction, with a minimum of $0.30) if users link a credit or debit card.
The Gmail feature is currently available only through desktop computers, and is rolling out to U.S. users over the age of 18 in the coming months.
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