Google Launches Mobile Payment Service in Peru

Published 6 months ago

Google has unveiled its contactless payment service in Peru, utilizing its digital wallet. This allows any Android smartphone user to download the application and make payments at any establishment that accepts contactless payments.

Edgardo Frías, General Manager of Google Peru and Chile, stated that the launch of the app represents a milestone in the company’s objectives, focusing on the economic and digital development of small, medium, and large businesses.

Impact of Google’s Digital Wallet

The introduction of this app brings about different schemes. It has various effects and aspects, such as connecting people with businesses more simply through digitalization. It also allows the development of an ecosystem that provides the opportunity for small, medium, and large companies to sell without restrictions.

Supported Banks and Cards

The banks and cards that support payments through Google’s digital wallet include Banco de Crédito del Perú (BCP), BBVA, Interbank, Scotiabank, Caja Municipal de Ahorro y Crédito Arequipa, and Pomelo Tecnología Perú SAC. Notably, Google Wallet does not charge users or businesses for each transaction as the system is integrated with banking entities.

Google Wallet and Google Pay: A Distinction

According to Frías, it is important to differentiate Google Wallet from Google Pay. While Google Pay exists within the wallet, it is not the only place where it can be found, hence the need to distinguish between the two.

Technology Behind Google Wallet

Google Wallet employs NFC (Near Field Communication) technology to transmit information from the card to the point of sale (POS) terminal, essentially replacing debit or credit cards. The app uses multiple layers of security to protect user data, ensuring all transactions are encrypted.

Security Measures

To ensure security, a biometric unlocking method or a security PIN is required for use. In case of device misplacement, the “Find My Device” function allows it to be locked, the password changed, or even all stored data deleted.

In addition to this, Google Wallet allows the addition of boarding passes from 30 partner international airlines such as Latam Airlines, Aeroméxico, AirFrance, United Airlines, among others. Users can also register their concert and festival tickets.

Loyalty Programs

During the launch, the General Manager of Google Peru highlighted a key feature of the new wallet: the ability to facilitate loyalty programs for businesses. This means that companies can integrate their elements independently, making them available to their customers through Google Wallet.

How to Use Google Wallet

To use the app, it must be downloaded from the Play Store and linked to a Google account. A credit or debit card must then be registered, after which the virtual wallet will be ready for contactless payments. To make a payment, the smartphone just needs to be brought close to the POS, with larger transactions requiring the phone to be unlocked.