Google teased the new mobile payments tool at its I/O developer conference in May as a new way for consumers to use their saved credit or debit card information to quickly make online purchases within Android apps and Google’s Chrome mobile browser. Rolling out today, the new feature allows users to store any credit or debit cards they have used for Google products like Chrome, YouTube, Android Pay, or the Google Play store in the Pay with Google tool, which will then send their payment information and shipping address to online merchants to complete a purchase in just a few clicks. Users can verify purchases with a security code sent by Google.
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The new payment tool is similar to Google’s Android Pay, the company’s mobile wallet feature that launched two years ago and allows users to make in-store purchases with the app. The new feature will also work for Android Pay users, but Google said in May that Pay with Google is aimed at consumers who don’t have Android Pay accounts and who want an easier way to make mobile purchases within Android apps.
The mobile payments industry is forecasted to bring in $3.4 billion in annual revenue by 2022, and Google is competing in that space with rivals like Apple’s Apple Pay mobile wallet, as well as PayPal.
Google said it isn’t charging transaction fees for purchases made with Pay with Google. The new payments tool is already available to use with at least 15 e-commerce companies’ Android apps, including Kayak, Postmates, and Instacart. Google said on Monday that it will soon add more companies to that list, including Airbnb, Boxed, Caviar, and Papa John’s Pizza.