how do google wallet work
Google Wallet is a Google hosted mobile application that allows users to store their credit cards and discount offers on their mobile phones and desktops. Both brick and mortar and online stores can use the Google Wallet feature to accept payments from their customers. For customers, this is an easy way to carry credit cards and coupon offers and to make payments. For businesses, allowing Google Wallet transactions is a great way of making your ecommerce site easy to use. The Google Wallet application is a “cloud” technology, meaning that a customer can use it anywhere as long as the merchant accepts this type of transaction. The application is powered by near field communication technology that makes it possible for users to just tap their mobile phones on Google Wallet and enable cashiers to allow for the transfer of funds.
To enable Google Wallet in your online store, you will need to sign up for a Google Checkout Account and introduce your domain name. you will also need to integrate your Checkout account with gadgets such as the “buy now tabs,” “shopping carts” and other services such as Google Analytics.
As an online business, why should you integrate with Google Waller?
Attract More Leads – When site users see that your site has a Google Wallet tab, they will recognize it as a secure place to make online payments.
Convert More Sales – The availability of a visible Google Wallet feature simplifies the process of online shopping for site users. This is especially applicable if site visitors have used Google Wallet before on your site; all a site user needs to do is to use his/her email address and password to finish their purchase. When a visitor enters their information once, they do not have to enter it again the next time they make a purchase. This offers site visitors and potential buyers a seamless and quick site experience.
Processing and Managing Orders – When you sign up for a Google Checkout account, you will receive notifications every time a customer places an online order. You have the option of processing orders through your own order processing and management mechanisms or through the Google Checkout Merchant Center. After confirming the order details, and after the customer acknowledges a purchase, Google will authorize you to charge the buyer’s credit card. It is recommended that online merchants using the Google Checkout application charge their orders within seven days of being authorized to charge the funds.
Tracking Customer Conversion – If you integrate your Google Checkout account with Google Analytics, you can have access to metrics on customer conversions. Another method of tracking your site’s cart activities is by monitoring the ecommerce transactions on your site. Google Wallet allows you to configure your site shopping carts in such a way that transactions carried out through the shopping carts are recorded and made accessible through the ecommerce reports.
Funnels and Reports – Apart from tracking the ecommerce activities on your site, you may also monitor the number of visitors that are accessing your site and placing orders. Google Wallet allows you to create funnels and goals. As you set up your goals in Google Analytics, you must include the login page, the place order page and the order confirmation page. These pages will allow you to receive funnels reports on important aspects such as the number of buying visitors that are using Google Wallet, the conversion rate and the point that visitors abandon their carts before they complete a purchase. This can provide invaluable insights as to why customers are visiting your site, think about purchasing and then abandoning the transaction.
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