How to set up Google Pay for your business?

Thanks to the digital transformations in the world we live in today, consumers in the UK prefer using Google Pay to make contactless payments via their Android devices. 

To stay up-to-date and capitalise on this opportunity, businesses are exploring ways to support this payment method. 

The following sections uncover the ins and outs of setting up Google Pay for your business. We also share some reasons to accept Google Pay payments and more. 

Why your business should accept Google Pay payments

Before we dig into the benefits of the Google Pay features for your business, it’s essential to start from the basics and explain this solution.

Explaining Google Pay

In short, Google Pay is a digital wallet that merchants can усе to collect online and in-store payments. 

While Google Pay is often used interchangeably with Google Wallet, first introduced in 2011, Google Wallet partnered with Android Pay, resulting in the creation of Google Pay. 

However, in 2022, the Google Wallet app was reborn, replacing the Google Pay app in some countries. In others, both Google Wallet and Google Pay remain active. 

The key difference between the two is that Google Wallet is mainly created for mobile payments on an Android phone. It lets users store credit and debit card details, loyalty cards, boarding passes, and other essential digital assets. 

It’s also designed for users to receive and send money to friends and family. To do so, they grant Google Pay access to their contacts and tap send or request money via the app. The funds will be included in their Google Pay balance, which the user can view. 

On the other hand, Google Pay supports mobile payments, but also peer-to-peer transactions, and more. Via the solution, you can also withdraw money.

The benefits of Google Pay for businesses 

Whether running a small or large business, setting up Google Pay is crucial. 

This popular mobile wallet provides convenience to users and makes paying at checkout quick and easy. 

Regardless of whether you have an online shop or a brick-and-mortar store, some of the reasons to accept Google Pay payments include:

• More conversions – Google Pay dramatically improves customer service, leading to more sales for the business. For example, the solution provides various card abandonment solutions that can contribute to higher conversion rates. A customer’s credit or debit card information and shipping address are saved to their Google Pay account. It eliminates the need to populate these fields at online checkout for future purchases. 
• More in-person sales – With Google Pay, customers can pay without carrying around a debit or credit card – a popular reason to avoid purchases in-store. 
• Lower card abandonment – When merchants sync payments with an Android device, they can send notification messages directly to customers, reminding them to complete their purchases. This positively influences cart abandonment rates. 
• Enhanced security – Fraud and sensitive data theft are popular concerns among businesses. Google Pay relies on advanced security features, like using a unique card token (virtual account number) rather than the user’s card number. This means that the actual card number of the customer isn’t shared with businesses, eliminating the risk of data fraud.
• No fees – One of the most significant advantages of accepting Google Pay payments as a business is that no fees are charged. The payment system accepts major banks and credit cards. 

These benefits are just a few examples of how Google Pay can benefit your business.

How to use Google Pay at your business?

If you plan to use Google Pay for your business, several factors must be considered.

First, ensure compatibility between Google Pay and your existing point-of-sale (POS) system. It’s fundamental that you have an NFC-enabled contactless payment terminal that supports this type of payment. 

It’s also important to inform your shoppers that you accept Google Pay. You can do so by displaying the Google LLC logo or adding a Google Pay button at checkout for online stores.

How to set up Google Pay for your business?

We’ve now reached the most interesting part of this article – how to set up Google Pay for your business.

Here are the steps that we recommend to follow.

Set up your Google Pay for business

First, you must open a new online account with Google Pay for business. 

To do so, you’ll be required to provide a Google account. If you don’t have one yet, you can easily create one in a few seconds. 

You’ll also need to provide your Unified Payments Interface ID (a unique identifier for your bank account) or Virtual Payments Address.

Bank account verification

Next, you’ll need to verify the business bank account to which the received payments will be transferred. 

Merchants often wonder how to request money transfers from Google Pay into their bank account. You can do this by connecting your account to Google Pay.

At signup, Google Pay sends a small sum of money to the connected bank account to confirm its validity. If it successfully adds money to your account, it’s considered verified, and you’ll be sent to the signup portal once again to enter the received amount into the UPI verification screen.

Google Pay approval

The next step is the review and approval phase. Google Pay’s team will evaluate the provided information over a time frame of 48 hours and will send you an approval email once your account has been confirmed. 

In cases where additional data is required, you’ll be able to see on-screen instructions outlining the steps you need to take.

Integration 

When your Google Pay account has been successfully created, the next step is to allow your shoppers to pay using this payment solution. 

This process may be slightly different depending on your business and the type of payment gateways you rely on. 

For example, you could add a range of integration options, including desktop, website, and in-app integration. 

Using an NFC terminal

As noted above, for Google Pay to work for your business, you must use an NFC terminal. 

These terminals send information between devices that are closely positioned to one another. 

Working with an NFC terminal lets shoppers quickly and easily pay for your products or services via mobile phones. 

All they need to do is create their own Google Pay account by downloading the app from the Google Play Store, opening the Google Pay app, connecting their Gmail account and enabling Google Pay to access their device’s location. 

They’ll need to add a new card for payments (Google Pay supports credit and debit cards, and you can store multiple cards in your account). Each user will have set a default card for their account, indicating which card they want to use for payments.

It’s important to note that Google Pay can also be useful for transportation businesses, as it enables adding transit cards to access trains, subways, and buses. To use their passes or tickets, they’ll need to unlock their phone, choose their ticket, position the mobile device close to the card reader, and wait to see a blue checkmark.

Make sure your staff can also use Google Pay efficiently 

Once you’ve set up Google Pay for your business, ensure everyone is on the same page and well-informed about how to use the solution. 

Go over potential challenges and problems and provide ways to troubleshoot if something goes wrong.

Are there limits on how much you can accept payments with Google Pay?

Generally, there are no limits on how much shoppers can spend on a single transaction. 

However, some retailers set their own limits for Google Payments for different reasons, like security or others.

Conclusion 

Google Pay can provide a range of opportunities for businesses, both online and in-store. 

Luckily, the setup process is straightforward and easy to complete, especially if you have all the necessary information.

We hope this article will help you throughout your journey to setting up Google Pay for your business.

Frequently Asked Questions

How does Google Pay work for your business?

Google Pay lets shoppers make contactless payments via their Android devices in-store and online. It’s a solution that works effectively for businesses, offering convenience, speed, security, and reliability.

How will shoppers know that my business accepts Google Pay?

In-store, you can inform customers that you accept Google Pay by adding the Google Pay logo close to your payment zones. You can add the logo online, including a Google Pay button at checkout.

Do businesses have to pay extra fees to accept Google Pay?

No, one of the most significant advantages of Google Pay is that no extra fees are accumulated for businesses that accept payments via this system.