Google Wallet launched in 2011, but according to a new report it took several years before the service started seeing any real adoption.
Moreover, it may actually be to Apple’s credit that the mobile payments system from Google has seen any kind of growth at all so many years after its initial launch. The report was published by Ars Technica, citing “a person with knowledge of the matter,” and states that Google Wallet saw tepid adoption back in 2011, and through the subsequent years, but has recently seen “considerable growth.” As the report notes, this could very well be due to the recent launch of Apple Pay:
“NFC-based mobile payments have had a boost in recent months, possibly thanks to the launch of Apple Pay, which was announced in September. Now, a person with knowledge of the matter tells Ars that Google Wallet, which launched back in 2011 and saw tepid success in the ensuing three years, has had considerable growth in the last couple of months. According to our source, weekly transactions have increased by 50 percent, and in the recent couple of months, new users have nearly doubled compared to the previous month.“
As Google Wallet continues to grow, with Apple bringing major awareness to mobile payments, it will quickly become a major competitor within the niche market. Of course, Google’s effort is not the only other competitor, as the Merchant Consumer Exchange group is launching CurrentC in 2015, which has garnered its fair share of attention over the last month and a half, especially as shops like Rite Aid and CVS block Apple Pay.[via Ars Technica]