Google Inc.’s (GOOGL) mobile application, Google Wallet, will now be integrated with Blackhawk Network Holdings, Inc.’s (HAWK) gift card technology to help customers to better manage and redeem their gift cards through their mobile devices.
Blackhawk Network Holdings is a prepaid payment network utilizing technology that offers a range of gift cards, other prepaid products and payment services in the United States and 18 other countries.
Google Wallet, on the other hand, stores customers’ payment information like user ids and passwords securely which can be used for making online payments and shopping at retail outlets.
Google Wallet users will have to take a picture of their cards using their phone's camera or enter the card and pin number manually to unload. For electronic gift cards, users will have the ‘Save to Google’ option to automatically save their gift cards on Google Wallet.
Subsequently, they will be able to redeem gift cards at participating locations through their smartphones. Additionally, Google Wallet users will be entitled to other benefits, including checking the validity of the card as well as balance. Customers can also receive news on exclusive promotions directly on their mobiles.
The increasing adoption of smartphones, tablets and other mobile Internet devices has become the biggest growth driver in the industry. Consumers now prefer the convenience of ordering and paying online over the hassles of shopping at brick-and-mortar stores.
In order to benefit from this change, Google has been adding new and improved features to its digital wallet application. The integration gives a convenient option to all Google Wallet users to redeem gift cards directly through their mobile devices.
The search engine giant strives to enhance its competitive strength against rival mobile payment service providers such as eBay’s (EBAY) PayPal, Intuit Inc's (INTU) GoPayment and Starbucks-backed Square Inc. to name a few. eBay has been the forerunner in mobile payments and PayPal has consistently supplemented online payments with offline payment solutions.
Google currently carries a Zacks Rank #3 (Hold).
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