Tech

Google Pay now at three banks in the Netherlands

The Google Pay app itself is not available in the Netherlands and therefore only customers of the banks Bunq, N26 and Revolut can use the service. “We hope that it will soon become possible for more Dutch people to use Google Pay,” says a Google spokeswoman.

Via the aforementioned banks, Google Pay can be used in all shops that accept payments with Mastercard and Visa. According to the company, the corona pandemic has increased the need for digital and contactless payment in stores.

Google Pay started in the United States in 2015 and is available in many other countries, including much of Europe.

Apple Pay

Apple’s comparable service on iPhones and Apple Watches, Apple Pay, has been available in the Netherlands for over a year. Most Dutch banks now support Apple Pay. Samsung’s alternative Samsung Pay is not yet available in the Netherlands.

Dominant position of tech giants

Earlier this month, the Netherlands Authority for the Financial Markets (AFM) announced that it is concerned about the dominant position of large tech companies such as Google and Apple. The companies are increasingly present in the European financial sector, which makes it more difficult to maintain proper supervision. According to the watchdog, it is important that more international and also cross-sector cooperation can take place in the supervision of ‘Big Tech’. In the Netherlands, the large tech companies limit their financial interference to payments for the time being.

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