Mastercard today announced that it will partner with its card partners to make Google Pay available in Austria, Bulgaria, Estonia, Greece, Hungary, Latvia, Lithuania, the Netherlands, Portugal and Romania.
Google Pay provides safe, fast and convenient shopping for users who have a compatible Android device, whether it’s online shopping or contactless payment in stores known as credit cards.
Mastercard works with several exporters and fintech companies, including Banca Transilvania, Bunq, CEC Bank, Curve, LHV Pank, Monese, N26, Paynetics, Revolut, Swedishbank and Unicredit Bank from Romania and Viva Wallet customers can take advantage of this opportunity.
Google Pay in Hungary is now available from Revolut, Curve, and Monese.
The current launch is a good example of Mastercard’s commitment to fostering innovations that make people’s everyday lives easier.
Since the start of the epidemic, the proportion of contactless transactions has jumped to nearly 80% across Europe. Consumers are starting to use less cash, and many are choosing a secure, fast, and contactless payment method. This transformation is expected to stand the test of time.
Milan Gooder, Vice President, Product and Innovation, Mastercard noted:
Providing options and innovative payment solutions is an important part of our goal to improve people’s daily lives. With hygiene becoming a top priority for many people now, we want to make sure that we continue to offer them innovative solutions for contactless payments.
He added that with their announcement today, they will create an opportunity for customers to always choose the most convenient and secure payment method. To this end, we are excited to join forces with Google to provide ease, speed and peace of mind for the people you serve.
People more than ever prefer to use simple and secure solutions, whether it’s online purchases or contactless payments in stores. Working closely with Mastercard, users in 10 other European countries have the opportunity to pay with Google Pay through a financial service provider. We hope everyone enjoys the benefit of being able to pay millions of points worldwide using your Android phone
Added Florence Dees, Head of Payment Partnerships at Google.
Easy to prepare, easy to use
In order to access all the benefits of Google Pay as Android users of the now joining banks, we simply need to select the “Add to Google Pay” option after selecting which mastercard you want to use in the card issuer’s mobile banking app.
With Google Pay, users can pay with their phones anywhere they receive contactless transactions, be it stores or public transportation. You don’t have to open Google Pay or the mobile banking app again and again, and you don’t need an internet connection. Without having to search for their wallet, shoppers can pay with the device they already have. They don’t need to use the POS terminal for this either – even over the 15,000 HUF limit, it suffices to unlock their phone right before paying.
Usual data security
In addition to convenience, linking the Mastercard to Google Pay is an added security thanks to Mastercard’s token technology. Mastercard’s solution protects cardholder data by replacing the physical card number with a so-called “token,” which is a unique alternate card number. Thanks to this dynamically changing component of all payments, encryption makes transactions more secure, and thus reduces digital payment abuse. So when a user uses his cell phone during a transaction, it is the token, not the real card number, involved in the transaction.
Whether you are a customer or a merchant, using Google Pay Mastercard includes all the benefits and security of regular physical card payments.
It’s the best-in-class security solution, and it’s one of the main reasons why both buyers and merchants choose us as a partner.
Milan Goder added.
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