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Why are banks switching to Google Pay?

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Banks that previously still offered their own mobile app that allowed customers with an Android smartphone to pay at the checkout have all phased out. As an alternative, those banks now offer Google Pay for Android devices. Here we explain why they have done so.

  1. Payment card capabilities are evolving rapidly. A bank can no longer reasonably develop and offer a mobile wallet on its own that can compete with Google Pay on Android smartphones (both Android and Google Pay belong to Google). This is why all Dutch banks have now switched to Google Pay, for customers with Android smartphones. With Google Pay, you can store and use all your payment cards (including credit cards) from all card providers on all types of Android devices together. It also allows you to pay online anywhere, such as online shops.
  2. Google Pay is neither mandatory for bank customers, nor indispensable. Google Pay complements other ways to pay with a debit card. Without Google Pay, anyone can still pay easily, safely and quickly contactless with their physical debit card. With the updated Debit Mastercard and Visa Debit physical debit cards, without Google Pay it can also be done online, for example in online shops.
  3. Banks and Google Pay are supervised by various Dutch and European regulators, including for consumer privacy protection.
  4. To activate Google Pay, a bank shares customer data with Google Pay, such as the name and card number of its cardholder. Google Pay needs that data to monitor for payment card abuse and fraud.
  5. Google Pay needs to process and store payment data to comply with the law or to fulfil its obligations to cardholders (bank customers), card providers (banks) and card brands (such as American Express, Mastercard and Visa). Google clearly and distinctly informs its users about their rights and obligations and about the data that Google Pay processes and stores. Based on Google’s information, customers can decide for themselves whether they want to use Google Pay.
  6. Banks are of course open to suggestions from customers and consumer organisations to improve their customer information on Google Pay.

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