Magnetiq Bank is expanding its service range with the innovative digital payment solution Google Pay to simplify payment acceptance for its e-commerce clients and ensure secure and convenient client service. Google Pay offers businesses fast and efficient digital payment acceptance, detailed sales statistics, and digital tools for account management. By integrating this solution, payments are directly credited to the company’s bank accounts, simplifying financial processes for businesses of any size.

This digital payment system also includes valuable business features, such as real-time and historical transaction reports, which help companies track sales volumes. It also features a loyalty program and precisely targeted advertising in the app for potential clients. Businesses and their clients can be assured of their money and personal information security through built-in authentication, transaction encryption, and fraud protection.

Using Google Pay in daily transactions can motivate users to also start using Google Wallet—an all-encompassing digital wallet that consolidates payment, identification, loyalty cards, and other activities in an easily manageable format. Thanks to the solution’s security and simplicity, it is used by over 1 billion users worldwide, with transactions numbering in the tens of billions.

“As the digital landscape continues to evolve, Magnetiq Bank remains focused on providing innovative solutions to foster client growth and success. Google Pay confirms this, promising significant advantages for businesses seeking to enhance their transaction flexibility and client relationships.

We are excited to start offering Google Pay to our e-commerce clients. Google Pay is not just a convenient method of payment but also a significant competitive advantage! It ensures faster transaction times (up to 20% faster). It reduces fraud risks (Google Pay’s tokenization technology prevents 90% of fraud attempts), thus improving client satisfaction (35% of Google Pay users who have tried other mobile payment systems now choose this solution for future purchases). Moreover, Google Pay operates in more than 60 countries and has a user base of 150 million active users, enhancing brand perception and increasing sales volumes. According to a study published by Google, introducing Google Pay as the default payment method can increase conversion rates by 20 times,” explains Martins Makna, Project Manager at Magnetiq Bank.

We invite clients to start using Google Pay today. Its activation is simple, and the Magnetiq Bank team is always ready to assist clients at every stage of implementing this solution, ensuring a smooth transition for the business.