After, Android Pay and Google Wallet. Now it is Google Pay.

Tuesday last week Google released their new mobile pay version Google Pay. It is now the third attempt from Google to try keeping up with Apple Pay.

So why is it that Google tries and try on this market. For now, it is a big hype on mobile payment. More and more shops stop dealing with cash, it’s simple cost too much for the stores. Sweden has come far already, and many think the country will be close to cash-free in 4 to 5 years.

But will we ever replace all payment with our mobiles? No, we will not, in fact, I think Google Pay or any other mobile payment will never be any big thing.

So why will mobile payment newer take over?

Well, first you need to know, this is my opinions.

The first and most obviously, why should it replace card payments. Nobody can seriously say it is more practical to pay with your mobile. Especially not for much longer. Today almost all card is wireless, and so is the machines, and the cards that are not, will be next time when they changed. It means you only need to put your car on the device, and it makes it very practical.

It can also be done with your mobile if you have NFS. But not all have, and the one that has will fighting with high battery use, as NFS usually drain your battery quite quickly.

Then it comes to security. On this there is not any difference, you lose your phone, or you lose your card. But many seams to have less trust in technical things when it comes to handling their money.

Another significant challenger is the market. As long the market doesn’t make changes and start to offer this service to pay, nothing will happen.

I live in Spain, and it’s known that Spain is typically late to adept new technics. But I try to connect to Google Pay with two of Spains biggest banks (BBVA & Santander), and none of them could join the service.

Then we have the market. Why should the market invest in new machines for only some users? For years ago, when the market starts to announce that they will end payment with cash, nobody believed them. People mean that they would lose so much business so that would never happen. Today we know that this was not true.

So what about the banks?

Well, even if you using the phone, you still pay with your card. So the bank will not be of any help. The banks will not also see any changes; they will not get more commission to get the money quicker. So why should they invest in new machines that in the end, the market will pay for, if it’s not enough interest in this?