Designed by Tech giants Google to give users a fast and secured means of payment and manage payment cards, gift cards, reward cards and other essential documents using Near Field Communication (NFC) and Cloud technology. The Google wallet has been launched in over 39 countries globally. This launch will see the Google wallet replacing the existing Google Pay, ensuring that users beyond fast payments have seamless access to essential documents.
In contrast to Google Pay, Google wallets offer a more resourceful service to users in the digital payment industry. While Google Pay was mainly focused on facilitating payments, Google wallet will help users in Singapore and other countries save important documents and manage who gets access to them with advanced privacy features. At the same time, users will still be able to share these files anywhere in the world and still enjoy the contactless payment feature of Google Pay.
These added features reveal Google’s Commitment to promoting the digitisation of Singapore and the world. An entirely digitised Singapore will build a better, more efficient financial ecosystem and further enhance the opportunities available in the country. This digitisation would establish a strong connection between Singapore and its international counterparts, which is the basic foundation for investments and national growth.
Singapore in focus:
Population: 5.6 million in 2020 as compared to 5.7 million in 2019
GDP: $340 billion compared to $374 billion in 2019
GDP per capita: $59,797 in 2020 compared to $65,640 in 2019