The Google Wallet Instant Buy API may not be all that new, it was launched back in 2013, but it could be the key to expanding Google’s mobile transaction service from tapping your phone in stores to buying goods from all around the world. WePay, an online payment API developer for businesses, has merged Google’s API into its own back-end system, opening up new ways to pay with Google Wallet.
From today, WePay customers are able to send and receive payments through Google Wallet, in a similar way to how PayPal currently operates. WePay opted to integrate the API after Google initially approached InvoiceASAP, a WePay customer, to use its service as an option for paying invoices.
Google has previously announced that it is retiring its browser-based Google Wallet for digital goods service on March 2nd of this year, as it attempts to move clients over to its in-app billing services. Instead, the Instant Buy API applies soley to the physical sale of merchandise, goods or services.
“Historically, Google Wallet meant tapping your phone at the point-of-sale in a store … But now there will be lot of places online where you can use it too.” – Rich Aberman, WePay co-founder
The problem that Google aims to address is that mobile-payment methods don’t seem to be catching on that quickly, as entering various card or bank details into a mobile device can be a hassle. WePay estimates that only around 20% of transactions are done through mobile devices, even though the company estimates that 70% of its customers have initially opened invoices on their mobile devices. By positioning itself as a one-click middle-man, Google Wallet should make this process easier and could also end up competing with existing services like PayPal.
“Entering your credit card info on a mobile device is inherently difficult, making it less likely that people will complete their transactions.” – Paul Hoeper, Founder and CEO of InvoiceASAP
The option to push its Instant Buy API through third parties, such as WePay, should help Google Wallet reach a larger number of users in a shorter space of time, rather than convincing companies to adopt its service on an individual basis. This API could become an essential part of the Google Wallet ecosystem as the company attempts to expand its mobile payment system.