JAKARTA - Alphabet Inc., launched Google Wallet in South Africa on Tuesday, August 23, as the tech giant tries to gain a foothold in the country's fast-growing digital payments space.
The COVID-19 pandemic has accelerated the shift to digital transactions and people are increasingly choosing to make contactless payments through their smart devices. High smartphone penetration also helps the adoption rate of this digital wallet.
The Google Wallet app stores consumer credit or debit card information and allows shoppers to pay for goods by tapping their phone into the retail store's point of sale at the checkout counter.
According to Tuesday, starting last Tuesday, cardholders of FirstRand Bank, Discovery Bank, Investec, Standard Bank, ABSA and Nedbank will be able to add their card to the card to Google Wallet.
They can then pay with their Android phone or use an OS device that accepts contactless payments.
Last year rival company, Apple Inc., also launched its mobile payment system Apple Pay in South Africa. This makes digital wallet competition in South Africa even more intense.
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