PayPal likely remained well ahead of Google throughout 2020. Furthermore, Google recently announced that it would eliminate web-based payments in early 2021, which forced those users to download the app instead. However, Android users already use Google Pay to process payments on its Play Store, so it isn't surprising that downloads of the Android version temporarily surged after the latest update. According to Sensor Tower, Google Pay is currently the top finance app on Google Play, and the 12th most popular finance app on Apple's ( AAPL 1.68%) App Store. Why the app store rankings could be misleadingĪt first glance, it certainly seems like a lot of people are downloading Google Pay. He claimed that recent downloads of PayPal's Mobile Cash app were largely driven by its recent addition of cryptocurrency purchases. Donat mainly cited Google Pay's rise on the app store charts as evidence of that growth.ĭonat also noted that downloads of Square's Cash App had decelerated from nearly 80% year-over-year growth in April to about 12% in December. Piper Sandler ( PIPR -1.77%) analyst Christopher Donat recently called the new Google Pay app a "threat" to Square and PayPal.
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