Alphabet (GOOGL) adds authentication functionality to Google Wallet

Alphabets GOOGL Google recently added new authentication settings to Google Wallet for Android. This allows users to choose their payment method and whether to verify their identity when using their pass.

In particular, the new Authentication Settings feature leads to a “Pay on Transit” option that enables users to verify their identity before paying with a credit or debit card.

Additionally, users can also disable the default “verification required” toggle on their default credit or debit card, allowing them to pay for transportation without verification.

With this move, Alphabet is expected to gain solid support among Android users.

Alphabet Inc. Price and Consensus

Alphabet Inc. Price and Consensus

Alphabet Inc. Price Consensus Chart | Alphabet Inc. Quote

Expanding the functionality of Google Wallet

Apart from the verification settings feature, Google now allows Google Wallet to import data from confirmation emails, allowing you to automatically retrieve movie tickets and travel boarding passes from your Gmail account.

Alphabet also announced an update to Google Wallet to support the open-loop payment system, providing a dedicated page for recent activity and trip history, and adding features such as saved fare caps, connected payment methods, and network-specific View services.

In addition, the company added 44 new banks and credit unions to Google Wallet's list of more than 3,000 banks and credit unions. Additions include local banks, credit unions, and prepaid debit cards.

All the above initiatives could help Alphabet leverage the growth opportunities that exist in the global digital wallet market. According to a report by The Business Research Company, the digital wallet market will reach $47.7 billion in 2024 and is expected to reach $97.54 billion by 2033, with an increase of 19.6% between 2024 and 2033. You can see the CAGR.

Additionally, expanding our commitment to Google Wallet will further strengthen our offering on Android. This will strengthen Google Services, which continues to be a key growth driver for the company. The company's stock has gained 49.1% over the past year, compared to the Zacks Computer & Technology sector's growth rate of 47.9%.

We expect the strengthening of our services division to improve our overall financial performance in the near term.

The Zacks Consensus Estimate for 2024 total revenue is $290.4 billion, representing year-over-year growth of 13.2%.

story continues

fierce competition

Expanding efforts into Google Wallet will help Alphabet compete well with prominent industry players such as Microsoft MSFT and Apple AAPL. These companies are also making strong efforts to increase their presence in the fast-growing digital wallet space.

Microsoft is going from strength to strength with Edge Wallet with new feature updates.

Updates to Microsoft's Wallet app, including cryptocurrency wallet integration and providing real-time updates on cryptocurrency value fluctuations and transaction logs, remain noteworthy. The “Explore” tab provides users with the latest information on cryptocurrency news, while the “Assets” tab displays his NFTs.

Meanwhile, Apple is riding on the success of its Wallet app on the iPhone and Apple Watch, which safely stores a variety of cards, IDs, and other items, allowing users to carry more while minimizing the size of their devices. That's what I'm trying to do.

Zacks Rank and Stocks to Consider

Alphabet currently carries a Zacks Rank #3 (Hold).

A better ranked stock in the broader Technology sector is Badger Meter BMI, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Badger Meter stock has increased 32.7% over the past year. BMI's long-term earnings growth rate is 12.27%.

Want the latest recommendations from Zacks Investment Research? Today you can download 7 Best Stocks for the Next 30 Days.Click to get this free report

Apple Inc. (AAPL): Free Stock Analysis Report

Microsoft Corporation (MSFT): Free Stock Analysis Report

Badger Meter, Inc. (BMI): Free Stock Analysis Report

Alphabet Inc. (GOOGL): Free stock price analysis report

Click here to read this article on Zacks.com.

Zacks Investment Research

Sources 1/ https://Google.com/ 2/ https://finance.yahoo.com/news/alphabet-googl-adds-verification-feature-152400638.html The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos