USD INR ₹ 83.12
GBP INR ₹ 105.80
CAD INR ₹ 60.66

Google Pay Review: Pros And Cons

Updated on August 30, 2021 09:59 am
Google Pay App

Google Pay is the umbrella term of all Google's digital payment features. It came from the merger of Google Wallet (launched in 2011) Android Pay (launched in 2015) in 2018.

Currently, Google Pay is supported by all Android devices with operating system 5.0 (Lollipop) & above and iOS 12.0 or later. The app is also compatible with Android Wear 2.0 smartwatch.

Like any other mobile payment apps, Google Pay or G-Pay allows you to store your credit or debit card information so that you can make in-store, in-app, online, or in-person contactless purchases on mobile devices such as smartphones, tablets, or smartwatches. It also allows you to send money to your friends.

The payment app aims to be a one-stop-shop for all your everyday financial management needs, from contactless payment to budgeting to splitting restaurant bills to getting cash-back offers and more.

You don't need to bring your physical wallet or carry cards to make purchases. All you need is to download the app, sign in to your Google account, and select a preferred method of payment.

Google Pay now has around 150 million users in 30 countries.

Let's get to know its features, new additions, and its pros and cons.

Google Pay Features

Digital Wallet


Google Pay lets you store not just your credit cards or debit cards, you can load loyalty cards, gift cards, bank accounts, coupons, campus IDs, movie tickets, boarding passes, event tickets, and even public transportation tickets, all in one place.

The great offer of e-wallets by Google Pay is that you can avoid the hassle of carrying the cards, passes, or tickets in your physical wallet and also avoid fumbling through your wallet or purse to reach for them. You don't have to worry about leaving them behind at home once you load a scanned copy on your phone.

Google Pay uses Near Field Communication (NFC) technology or tap-to-pay to transmit your card information at any contactless payment terminal. You can unlock your phone using your fingerprint or your security passcode to pay without opening the app itself.

You can also use it for making in-app and online purchases.

Peer-to-Peer Payments


Google Pay P2P Payment service allows you to send/request and receive to and from other Google Pay users. Unlike other digital wallets, the money received is directly deposited into your bank accounts.

You can transfer money directly from your checking account or pay from your Google Pay balance. You will have to deposit the money to your Google Pay balance from your checking account, debit/credit card (there will be fees for this transaction), or other payment methods that are supported by Google Pay.

If you tap on any of your contacts in the app, the transaction history between the two of you is shown as a chat-like view. You can also create a group where multiple people can send and request money from each other or split a bill or rent among the members. It tracks who has or hasn't paid their share and lets you tap a button to remind them of the payment.

Google Pay is on a partnership haul with international money transfer companies such as Western Union and Wise to support international money transfers. The P2P international money transfers are operational corridors such as India. India is the highest recipient of remittances in the world and one of Google Pay's biggest markets.

Enhanced Security

To open the app or make a payment, Google Pay requires authentication such as fingerprint ID, pin or pattern, so that only you can have access to your account.

Google Pay uses a tokenization system to provide an additional layer of security against fraudulent transactions. The app hides your debit card or credit card number and instead it is replaced with a randomly generated virtual account number or tokens during any transactions. Your data is encrypted to provide protection whenever you pay online.

Google Pay also sends you alerts when you are sending money to someone, not on your contact list.

In case your phone is stolen or lost, you can remotely lock it using Google's Find My Device service.

Cash Back Offers


The "Explore" section in the app helps you locate cashback offers. The vendors are shown in a long list. To use any of the offers, tap "activate" and claim it by paying with the linked credit card or debit card.

If you have a rewards card or store loyalty card for a given store, Google Pay can link it with that store. Retailers can share the offers in chat-form apart from seeing them in the "Explore" tab.

The cash-back rewards are real money and will go into your Google Pay balance. You can transfer the money into your bank account if needed. Depending on the vendors, the cashback rewards are usually credited within 5 business days.

Privacy Controls

If you want to personalize your experience within the app, you can turn on "Personalization" to allow Google's algorithms to use your transactions history, forms of payment, and loyalty cards to curate and aggregate deals and offers for you. This is not a default setting. You can try it for a 3-month 'trial' to see if you like it. You can opt out at the end of 3 months and return to only generic offers.

Google also lets you know that your data will not be sold to third parties or shared with the retailers. If you do end up using the offers, the concerned retailers will know about the transactions. Your translation data will also not be shared with the rest of Google to use for targeting ads.

Budgeting Tools

Google Pay provides you a list of your transactions so that you can track your spending. The "Insights" tab will show you reports of your spending, saving, even upcoming bills.

It works by scanning through your transactions. If you share your Gmail account and Google Photos account, Google Pay will automatically scan for receipts in both. With Google Photos, it uses Optical Character Recognition (OCR) to read receipts automatically and link them with the correct transaction.

It works with checking accounts, savings accounts, credit cards, and debit cards.

It also lets you view all transactions with a particular merchant. You can search the merchant by name and see the list of all transactions with the merchant. 

While the insights are useful, it lacks the true budgeting tools that are provided by budgeting apps like Mint or Simplifi. Google Pay only displays the information and may not help with cutting expenses compared to other apps dedicated for the same.


The app is free to download. There are no charges for sending and receiving money in your Google Pay balance. However, as of January 2021, there is a 1.5% fee ( a minimum of 31 cents) for debit card transfers (into or out of the Google Pay balance).

Since debit card transactions are considered instant, there will be a fee whereas there are no charges for bank account transfers as it takes 1-3 business days.

This can be a downside for Google Pay users as other P2P apps such as Venmo don't have fees for debit card transactions. And for international money transfers, fees by the partner companies like Western Union and Wise will be applicable. To save money on international money transfers, always compare before sending money.

Additional Features

You can order takeout or food at over 100,000 restaurants, buy gas at over 30,000 gas stations or pay for parking in over 400 cities using Google Pay. If you turn on your GPS, Google Pay lets you search for gas stations near you, along with prices. This is a handy tool to use during road trips.

Furthermore, if you refer friends to download Google Pay via text and your friend downloads and makes a purchase, you and your friend will get cash rewards that will be deposited into your Google Pay balance. (This can be a time-bound offer).

Upcoming Feature: Plex

Google is launching Plex, a new mobile-first bank account this year. Google has teamed up with 11 banks and credit unions, including minority-owned depository banks, in the U.S. to offer Plex accounts in Google Pay.

Essentially, some banks will use Google Pay as their banking app. You can handle basic checking and savings accounts with no monthly fees, overdraft charges, or minimum balance requirements and also get access to money management features such as "Goals" in the app.

For the time being, you can add yourself to the waitlist on the app to apply for a Plex account from Citi or SFCU.


In Conclusion

It seems Google is betting on the advantage of having everything in one place. It is an ambitious undertaking with a wide range of features to help manage your money with ease and safety.

Google Pay is a good option if you wish to have mobile payment, cards, money management features in one single app.

For the time being, the several features still lack in value when compared to other stand-alone apps for budgeting, cash-back offers, and P2P payment services available in the market. We hope to see new features and more countries being covered under their international money transfer portfolio with continuing updates.

Rate article:
Money Transfer FAQ's
Related Articles
Fast Money Transfer
Understanding Money Transfer Speeds

Sending money internationally is a vital task for many immigrants supporting their families back home. When finding the best money transfer service to send money with, you might be tempted to pick your remittance service provider based on whoever has the highest exchange rate. However, it is important that you look at more than one factor. Money transfer fees, the corridors the money transfer service offers, promotional offers, and money transfer speeds are just some of the factors you should look into before you decide on the best money transfer service for you. In this article, we will mainly be covering money transfer speeds. While the process seems straightforward, understanding transfer speeds is essential to ensure timely and efficient transactions. This article will delve into why money transfer services can't instantly transfer money, the factors influencing transfer speeds, and how to compare and choose the right remittance service using CompareRemit.Why Can’t Money Transfers Be Instant?Money transfers involve multiple steps and parties, which can cause the money transfer process to take some time. Here are some reasons why transfers aren’t always instant:Transfer Method: Bank transfers, wire transfers, and online money transfer services all have different processing times. Online services often provide the fastest way to send money.Payment Method: How you fund the transfer (bank account, credit card, debit card) can affect speed. Transfers funded by credit cards might be quicker but could incur higher fees.Transfer Amount: Larger transfers may undergo more rigorous checks, resulting in slower processing times compared to smaller amounts.Service Provider: Different remittance companies offer varying processing times. Some prioritize speed, while others focus on cost-effectiveness. It's essential to research and compare the transfer speeds of different providers.Verification Processes: Financial institutions must verify the sender’s and recipient’s information to prevent fraud and comply with regulations. This verification can take time.Bank Processing Times: Banks typically have set processing times, often limited to business hours and excluding weekends and holidays, which can delay transfers.Regulatory Compliance: Different countries have various regulations to prevent money laundering and illegal activities. Ensuring compliance with these regulations adds time to the transfer process.Intermediary Banks: Transfers that involve multiple banks or financial intermediaries can take longer as each institution has its processing times and procedures.Destination Country: The country to which you are sending money also plays a role. Transfers to countries with advanced financial infrastructure tend to be faster. For instance, sending money to India might be quicker compared to less developed regions.Time of Transfer: The timing of initiating the transfer also plays a role. Transfers initiated during business hours on weekdays tend to process faster than those initiated on weekends or holidays.Anti-Fraud Measures: To protect against fraudulent activities, money transfer companies implement rigorous security measures. While essential, these measures can slow down the processing of transactions.Preparing for Money Transfer SpeedsTo ensure your money reaches its destination as quickly as possible, consider the following tips:Plan Ahead: If you know you need to send money by a specific date, plan the transfer well in advance to avoid any last-minute delays.Verify Recipient Information: Ensure all recipient details are accurate to prevent any issues that might delay the transfer.Choose the Right Service: Use CompareRemit to evaluate different services based on their transfer speeds, fees, and reliability. This tool allows you to see all the factors that will influence your transfer experience.Consider Time Zones: Be mindful of time zones, as transfers initiated during business hours in the recipient’s country may be processed faster.Find the Fastest Way to Send Money Internationally with CompareRemitWhen selecting a remittance service, prioritize your needs and preferences. Getting the most for your money is important, but the highest exchange rate is not always the best answer. Getting a high exchange rate but having your money recipient wait days or even weeks to receive their money is not the best deal. Use CompareRemit's comparison tool to identify the fastest way to send money internationally. Compare the processing times offered by different providers to find the fastest way to send money abroad.

UK to Philippines
How to Send Money from the UK to Philippines

Sending money from the UK to the Philippines is a significant financial transaction that requires careful consideration to ensure efficiency, cost-effectiveness, and security. As an immigrant or someone supporting family and loved ones back home, understanding the process and selecting the right remittance service is crucial. Do not worry. CompareRemit is here to guide you through all of your remittance needs. In this guide, we'll walk you through the essential steps, considerations, and top remittance providers to help you make informed decisions and maximize the value of your money transfers.Things to Consider Before Transferring Money from UK to PhilippinesBefore initiating a money transfer, it's crucial to grasp two essential factors: exchange rates and transfer fees. The exchange rate refers to the value of one currency relative to another. For example, if the GBP to PHP exchange rate is 1 GBP to 71.81 PHP, it means one British pound is equivalent to 71.81 Philippine pesos. Transfer fees, on the other hand, are charges imposed by remittance companies for their services.It's worth noting that exchange rates and transfer fees can vary significantly across different companies. While some providers may offer competitive exchange rates, they might compensate by charging higher transfer fees. Conversely, others may provide lower transfer fees but offer less favorable exchange rates.It's essential to find a balance between favorable exchange rates and reasonable transfer fees to maximize the value of your remittance. Some companies may offer promotional rates or discounts for first-time users, while others may have ongoing promotions or loyalty programs. Comparing different remittance providers using platforms like CompareRemit can help you find the best combination of rates and fees for your transfer.Will GBP to PHP Increase or Decrease?As of the latest data, the GBP to PHP exchange rate stands at 1 GBP to 71.81 PHP. CoinCodex forecasts a potential 9.43% rise in the GBP to PHP exchange rate over the next year, reaching approximately ₱ 78.22 at some point during the year. While exchange rate predictions provide valuable insights, they are subject to change based on various economic and geopolitical factors. Monitoring exchange rate trends regularly can help you identify favorable opportunities for sending money to the Philippines.When is the Best Time to Send Money from the UK to Philippines?Determining the best time to send money involves strategic planning and analysis of exchange rate fluctuations. Referencing forecast predictions and using comparison sites like CompareRemit can help you track the best exchange rates and promotional offers from top remittance companies. By timing your transfers during periods of favorable rates or promotions, you can optimize the value of your remittance and save on transfer costs.How to Transfer Money from the UK to PhilippinesOnce you've finished comparing and contrasting the top providers and selected the best remittance provider through CompareRemit’s Compare Tool, the next step is to initiate the money transfer. Remittance services typically offer various transfer methods, including online transfers, bank deposits, and cash pickups.Sign up: Create an account with your chosen remittance provider and complete any required verification steps.Enter recipient details: Provide the recipient's information, including their name, address, and contact details.Select transfer amount: Enter the amount you wish to send, ensuring it meets any minimum or maximum transfer limits.Choose delivery method: Select the preferred delivery method for the recipient, such as bank deposit or cash pickup.Review and confirm: Double-check the transaction details, including exchange rate and fees, before confirming the transfer.Complete the transfer: Submit your payment and wait for confirmation of the successful transfer.Top Remittance Providers for Transferring Money from the UK to the PhilippinesXe Money TransferXe offers competitive exchange rates, low fees, and fast transfers, making it an excellent choice for sending money from the UK to the Philippines. Their user-friendly platform ensures a seamless remittance experience for users.Wise Money Transfer Formerly known as TransferWise, Wise provides transparent exchange rates and minimal fees, allowing users to send money with confidence. With millions of satisfied customers worldwide, Wise offers a reliable and cost-effective solution for international transfers. Instarem Money TransferInstarem offers competitive rates, no hidden fees, and real-time tracking, ensuring transparency and security throughout the transfer process. With Instarem, users can send money to the Philippines quickly and conveniently.PassToPassTo specializes in tailored remittance solutions for migrants, offering flexibility, convenience, and personalized service. With a focus on customer satisfaction and reliability, PassTo is an excellent choice for sending money to the Philippines and beyond.Frequently Asked QuestionsQ: What are the best rates from GBP to PHP?A: As exchange rates fluctuate, it's advisable to monitor platforms like CompareRemit to find the best rates from GBP to PHP offered by various remittance providers.Q: When is the best time to transfer money from the UK to Philippines?A: Monitor exchange rate trends and utilize comparison tools to identify favorable transfer windows.Q: How can I compare money transfer services from the UK to Philippines?A: Utilize comparison sites like CompareRemit to compare money transfer services based on exchange rates, fees, transfer speed, and customer reviews.Q: What is the best way to transfer money to the Philippines online?A: The best way to transfer money to the Philippines online is to use a reputable remittance provider, ensuring competitive rates and secure transactions.Q: How can I ensure the safety and security of my money transfers?A: Choose reputable remittance providers with robust security measures in place to safeguard your transactions.

Prevent Money Fraud
Keeping Your Money Safe: How to Protect Yourself from Remittance Fraud

In today's interconnected world, sending money back home to loved ones is easier than ever. However, along with the convenience comes the risk of falling victim to remittance fraud. As immigrants, it's crucial to stay informed about common scams and fraud schemes targeting remittance senders and recipients. In this article, we'll explore the different types of remittance fraud and provide expert tips on how to protect yourself and your hard-earned money.How Money Gets TransferredTo understand where your remittance can go wrong, you need to understand how the ideal remittance process should work. When you use a remittance service, the process typically involves transferring funds from your bank or online account to the recipient's account. This can be done through various methods such as bank transfers, online platforms, or mobile apps. While these methods are generally safe, it's essential to be aware of potential risks and take precautions to safeguard your transactions.Types of Remittance Fraud: Identifying the ThreatImpersonation Scams: Fraudsters pose as remittance agents or family members in need of urgent financial assistance. For example, someone might impersonate a relative and claim to need money urgently for medical expenses.Wire Transfer Scams: Victims are coerced into sending money under false pretenses, such as lottery winnings or fake job offers. For instance, individuals may receive emails claiming they've won a prize but need to pay a fee to claim it.Phishing Emails: Fraudsters send emails posing as legitimate remittance providers, requesting personal or financial information. These emails often contain links to fake websites designed to steal sensitive data.Social Engineering: Fraudsters manipulate individuals into divulging confidential information through persuasive tactics. For example, they may call pretending to be a remittance agent and request login credentials under the guise of resolving an issue with the recipient's account.Tips to Protect Yourself and Your MoneySpotting remittance fraud requires vigilance and awareness of common red flags. Be wary of unsolicited communication requesting personal or financial information, especially via email or phone. Legitimate remittance providers will never ask for sensitive details out of the blue. There are some easy steps you can take to make sure you are staying safe: Verify Recipients: Always confirm the identity of the recipient before sending money, especially if the request seems unusual or urgent.Exercise Caution Online: Be wary of unsolicited communications requesting personal or financial information. Legitimate remittance providers will never ask for sensitive details out of the blue.Choose Secure Payment Methods: Opt for reputable remittance services that employ robust encryption protocols and verification measures to protect transactions.Stay Informed: Educate yourself about common fraud tactics and remain vigilant when conducting financial transactions, especially online.To mitigate the risk of fraud, always opt for secure payment methods offered by reputable remittance services. These platforms employ robust encryption protocols and verification measures to safeguard your transactions. Furthermore, refrain from sharing sensitive information, such as passwords or PINs, with anyone, including purported representatives of remittance companies.Recovering from Remittance Fraud: Taking ActionIn the unfortunate event of falling victim to remittance fraud, do not panic. There is still a way to protect yourself and get your money back. Here are some steps you can take to recover from fraud: Contact Authorities: Report the incident to your remittance service provider and financial institution immediately to initiate an investigation.File Complaints: File a complaint with relevant authorities, such as consumer protection agencies or law enforcement, to increase the likelihood of recovering lost funds.Seek Support: Reach out to support organizations or legal professionals specializing in fraud cases for guidance and assistance throughout the recovery process.Using CompareRemit for Safe Money TransfersWhen it comes to sending money home, using a trusted remittance comparison site like CompareRemit can make all the difference. By comparing and contrasting the top remittance services available, you can ensure that your money is in safe hands. CompareRemit verifies all listed services, giving you peace of mind that your transactions are secure.FAQs: Frequently Asked QuestionsQ: Can I get my money back from remittance fraud?A: If you have been the victim of remittance fraud, don’t worry, there are still ways for you to get your money back. The key is acting in time and being transparent with the authorities. Immediately report the fraud and file a complaint with relevant authorities and seek legal guidance to pursue restitution.Q: How to get money back from wire transfer fraud?A: If you've fallen victim to wire transfer fraud, immediately report the incident to your remittance service provider and financial institution. Additionally, file a complaint with relevant authorities and seek legal guidance to pursue restitution.Q: Is money transfer safe?A: Money transfer can be safe when conducted through reputable and secure remittance services. By exercising caution, verifying recipients, and choosing secure payment methods, individuals can mitigate the risk of fraud and ensure the safety of their transactions.Q: Are money transfer apps safe?A: Money transfer apps can be safe when used responsibly and through trusted platforms. It's essential to research and select reputable apps with robust security measures in place to protect your personal and financial information.Q: Is email money transfer safe?A: Email money transfer can be safe when sent through secure channels and verified recipients. However, it's crucial to exercise caution and avoid sharing sensitive information via email to mitigate the risk of interception or fraud.Q: Is it safe to transfer money online?A: Transferring money online can be safe when using reputable remittance services with robust security measures. By following best practices, such as verifying recipients and choosing secure payment methods, individuals can ensure the safety of their online transactions.Q: Is it safe to use money transfer sites?A: Money transfer sites can be safe when chosen carefully and used responsibly. Prioritize reputable sites with strong security protocols and positive user reviews to minimize the risk of fraud and ensure the security of your transactions.

Download the CompareRemit App
Download the CompareRemit App
Personalize your CompareRemit experience with your preferred corridor and receive target exchange rate notifications, seamless transitions to partner apps, and real-time comparisons of top remittance providers at your fingertips.
Personalize your CompareRemit experience with your preferred corridor and receive target exchange rate notifications, seamless transitions to partner apps, and real-time comparisons of top remittance providers at your fingertips.

Get Listed or Advertise

Download Our Free App

Try our faster, enhanced mobile app for a better experience

CompareRemit App