What’s The Difference between PayPal vs. Google Wallet?
Both PayPal and Google Wallet allow you to buy items online as well as to send money through electronic means. In many ways they are similar. You can link a bank account, credit card, or debit card to either PayPal or Google. Both require the email addresses of the recipients to be able to send money, and in both cases the recipient receives an email with instructions on how to retrieve their funds.
There are, however, some notable differences.
- Ease of use. When you use PayPal, you first have to log on to your Paypal account but when you’re on eBay you can pay directly through the site. PayPal is very easy to use. In eBay most of the transaction details are already entered automatically.
With Google Wallet, once your account is already linked to your bank account or credit or debit card account, you can just send an email to the recipient if you want to send them money. Just click on the attach symbol, and then click on the dollar sign “$” which allows you to “attach” money. You then enter the amount you want to send.
- Cost. When you use a bank account to pay through PayPal or Google Wallet, there are no payments. But there’s a slight difference in the corresponding payment schemes when credit or debit cards are used.
With PayPal, for amounts less than $3,000 the fee is 2.9% plus a fee of 30¢. So for a $100 transaction the fee for PayPal is $2.90 plus 30¢, which totals $3.20.
With Google Wallet, the fee is just $2.90 for credit card transactions. But there are no fees for sending money taken out of your bank account, Google Wallet balance, or debit card. You also don’t pay anything when you receive money.
- Security and Refunds. Both Google and PayPal are very secure, but PayPal only gives you 60 days to claim refunds against unauthorized charges. With Google, you have up to 180 days to make a claim.
- Customer Support. Google, however, can only be contacted through email. Regardless of how quickly they provide an answer to your questions, this method of communication is very limiting. But PayPal on the other hand offers excellent customer support, as it employs about six thousand people to man their customer support hotline.
- Stability. When you think about it, both Google and eBay (the owner of PayPal) are online giants. But PayPal’s main focus is in offering various modes of payments. This is the main reason for its existence.
But with Google, the Wallet service is pretty much a “side project.” And the problem with side projects is that they can be abandoned or overlooked at any time.
- Reach. Google Wallet can be downloaded as an app in the US only. It can’t be downloaded on devices that are located outside the US. PayPal on the other hand has a global reach.
This author has no description available.