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Compare these digital payment methods and see which is right for you.
Paper money is so 2015. Today’s mobile payment platforms streamline transactions by combining various payment methods – including credit cards, debit cards and gift cards – in one mobile application. Mobile payment platforms, also called digital wallets or mobile wallets, are mobile apps that allow consumers to enter and store payment methods securely so they can use a smartphone for seamless contactless payments.
Apple Pay, Google Pay and Samsung Pay are popular mobile wallets widely accepted by e-commerce and brick-and-mortar stores. Whether you’re a business owner wondering if you should accept these mobile payments or a consumer considering using them, there are numerous factors to consider. We’ll highlight these popular payment apps and share information about how they work.
Here’s an at-a-glance comparison of Apple Pay, Google Pay and Samsung Pay:
Digital wallet | Number of U.S. users | Pros | Cons |
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Apple Pay | 60.2 million |
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Google Pay | 25.2 million |
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Samsung Pay | 16.3 million |
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Google Pay (also known as GPay) is a descendant of Android Pay. Its 2020 redesign streamlined the app’s interface and made the service more modern and easier to use. Most Android devices support Google Pay.
Google Pay is part of Google Wallet. The terms are sometimes used interchangeably and can be confusing. Think of Google Wallet as a secure place to hold your payment card details, event tickets, etc., and Google Pay as an app that lets you pay for things, send money and access your payment options.
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Notable Google Pay features include the following:
How to use Google Pay
In-store, Google Pay uses NFC mobile payment technology to transmit payment card information from a consumer’s mobile phone to the card reader. The consumer’s Android device must be NFC-compatible and have the feature enabled.
Here’s how it works:
When using Google Pay online, just select it as your payment option. Google doesn’t charge consumers transaction fees for Google Pay purchases.
Google Pay availability
You can use Google Pay at many in-store locations, including the following (more merchants are being added all the time):
You can also use Google Pay with apps and websites like Airbnb, Caviar, DoorDash, Etsy, Groupon, Instacart, Postmates and Starbucks.
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Google Pay security
Instead of using your actual credit card number and other personal information, Google Pay uses a virtual account number that ensures your personal information is secure on your phone.
Apple Pay provides an easy, secure and private electronic payment service using Face ID- or Touch ID-equipped iOS devices like iPhones, iPads and Apple Watches. You can even use Apple Pay on some Macs. Ensure your device’s operating system is up-to-date and you’re signed into iCloud with your Apple ID. You can use Apple Pay once you’ve added payment cards to your Apple Wallet.
How to use Apple Pay
Like Google Pay, Apple Pay works with NFC technology for in-store purchases. Here’s how it works with iPhones (functionality is similar for other iOS devices):
Your default card is charged automatically. To choose a different card, open your Apple Wallet, tap the default card, and select the card you want to use for payment.
You can also use Apple Pay when shopping online or via mobile apps and websites by selecting the Apple Pay option where available. Loyalty points, rewards and benefits from your cards continue accruing when you use Apple Pay.
Here are a few other Apple Pay-adjacent functions to be aware of:
Apple Pay availability
Many merchants accept Apple Pay. In fact, with 90 percent of U.S. merchants accepting Apple Pay (according to Apple), you should have few issues utilizing this payment form online and offline. (However, notably, Walmart doesn’t accept Apple Pay – or Google Pay or Samsung Pay. The retailer is focused on its Walmart Pay digital wallet.)
You can even use Apple Pay to donate to various charities, such as the American Red Cross, Feeding America, St. Jude Children’s Research Hospital, and UNICEF, or for mass transit systems.
Apple Pay security
When purchasing with Apple Pay, your receipts are kept in your Wallet app, but transaction data isn’t stored elsewhere. Every transaction requires authentication with Face ID, Touch ID or your passcode. Your Apple Watch is protected by its unique passcode. If your Apple device is lost or stolen, you can suspend or permanently remove the device’s Apple Pay functionality.
Samsung Pay is another digital wallet. Like Google Pay, it’s compatible with Android devices. However, its device compatibility is much more specific to select Samsung Android mobile devices running Android 5.0 or higher, with the latest version of Samsung Gear installed.
Compatible devices include the:
Samsung Pay uses both NFC and magnetic secure transmission (MST) technology. MST technology emits a magnetic signal that acts like the magnetic stripe you find on most credit cards. This allows you to use this electronic wallet at more terminals than some similar applications allow, but it will not work at gas station pumps or ATMs where you physically stick your card into a reader.
How to use Samsung Pay
Like Apple Pay and Google Pay, Samsung Pay relies on a “wallet” app to store payment information. Add any qualifying Visa, Mastercard, American Express and Discover credit cards to your Samsung Wallet. More than 1,000 banks and credit unions support Samsung Pay, including Chase, Navy Federal Credit Union, TD Bank and U.S. Bank. You can also add gift cards and loyalty cards.
Here’s how it works:
You can also make online purchases with Samsung Pay.
Samsung Pay availability
While Samsung Pay isn’t as prominent as Apple Pay and Google Pay, it’s accepted in many stores, in apps and online, and works with most card readers. Notably, Samsung Pay doesn’t work at gas station pumps; however, it should work with the cashier’s card reader.
Stores such as American Eagle, Gap, Office Depot, Old Navy, Trader Joe’s, Best Buy, Nordstrom, Target, Nike and J.C. Penney accept Samsung Pay.
Samsung Pay security
Numerous security measures are in place for Samsung Pay. You must verify every purchase with your fingerprint, iris scan or PIN. Additionally, your credit card number is never used for transactions; instead, a random set of numbers is transmitted. All account information is encrypted and stored in a data vault. You can also remotely lock or erase your account with Find My Mobile.
Whether you use Google Pay, Apple Pay or Samsung Pay largely depends on your smartphone. If you have an iPhone, you’ll likely use Apple Pay, though Google Pay is available with limited features for iOS. If you have a Samsung device, you can choose between Samsung Pay and Google Pay. For all other Android smartphones, Google Pay is your only option.
Ultimately, all three systems function similarly. If you have a Samsung phone, you can test Samsung Pay and Google Pay to see which one you prefer.
Apple Pay, Google Pay and Samsung Pay are popular options compatible with many merchant card readers, credit cards and banks. Other options include Chase Pay, MasterCard PayPass, PayPal, Facebook Pay and Visa Checkout.
While all these platforms serve virtually the same function, each is slightly different, with various strengths and weaknesses. The best point-of-sale (POS) systems support many mobile payment platforms as more merchants allow NFC-enabled payments.
Mobile wallets are convenient, but they’re not a perfect payment solution. Here’s a look at their pros and cons.
If you’re a small business that wants to accept digital wallet payments, you must ensure your credit card processor supports these methods.
The best credit card processors allow merchants to accept one or more digital payment methods in addition to credit cards. For example, Clover lets merchants accept Apple Pay, Google Pay and Samsung Pay. All its card readers support NFC payments, helping you accommodate many consumers. Read our in-depth review of Clover for more information.
Jennifer Dublino contributed to this article.