Google Wallet Comes to Apple. Will Adoption Come Next?
Getting consumers to purchase the items in their shopping carts is no easy task, especially on mobile devices. In fact, 97 percent of mobile shoppers abandon their shopping carts.
Google hopes that by speeding up the check-out process, shopping cart conversion rates will increase. The tech giant announced that its embattled virtual wallet program, Google Wallet (only 0.02 percent of websites use the service), can now be integrated into Apple's iOS apps. The integration will allow users to check out in as little as two clicks instead of having to type in payment and billing information, through what Google calls Instant Buy.
There are several benefits that Google Wallet provides customers and businesses. For customers, Wallet not only keeps track of their credit card information, but also their loyalty program information - allowing them to keep everything in one place. For businesses, Google does not charge them fees when customers use it to check out, something that is much different from the 1-3 percent that credit card companies charge per transaction.
Even though the number of companies that use Google Wallet is miniscule, the tech giant shows no signs of scrapping the service.