CB-Insights-Facebook、蘋果、谷歌和亞馬遜如何爭奪28.2萬億美元的市場（英）-2021-77正式版

TheBigTechInFintechReport:HowFacebook,Apple,Google,&AmazonAreBattlingForThe$28.2TMarketWHATISCBINSIGHTS?CBInsightshelpstheworld’sleadingcompaniesmakesmartertechnologydecisionswithdata,notopinion.OurTechnologyInsightsPlatformprovidescompanieswithcomprehensivedata,expertinsightsandworkmanagementtoolstodrivegrowthandimproveoperationswithtechnology.CLICKHERETOSIGNUPFORAFREETRIALCBInsightshashelpedSunLifeFinancialworkmoreefficiently.It'sstreamlinedourresearchprocessandreducedthetimeittakesforustogetaperspectiveonanemergingtrend.ChristopherCollinsAssistantVicePresidentofDigitalPartnerships,SunLifeFinancialStateOfFintechQ1’21Report:Investment&SectorTrendsToWatchChallengerBankFundingIsSkyrocketing.Here’sWhatComesNextEverythingYouNeedToKnowAboutWhatAmazonIsDoingInFinancialServicesTheUnitedStatesOfFintechStartupsOurMostPopularClient-ExclusiveFintechResearchFintechFundingTrendsInEurope110+CompaniesBuildingTheNextGenerationOfWealthManagementToolsWhereTopUSBanksAreBettingOnFintechDisruptingThe$8TPaymentCardBusiness:TheOutlookOn‘BuyNow,PayLater’HowWealthTechCompaniesAreHelpingFinancialServicesIncumbentsStayCompetitiveHowBlockchainCouldDisruptBanking75+CompaniesReinventingWealthManagementInEuropeRobinhoodCapturesExecutiveAndMediaAttentionDuringThePandemicWhereChallengerBanks&IncumbentsSeeTheNextDigitalBankingOpportunityUnbundlingBankOfAmerica:HowTheTraditionalBankIsBeingDisruptedHowFintechsAreTappingInsurtechsToBundleServices40CorporateInnovationLabsInFinanceContents7915314460KeyFindingsWhereBigTechIsMakingMovesFacebookAppleGoogleAmazonKeyFindingsOverviewofbigtech*companies’activitiesinfinancialservices,2020–2021YTD(6/10/21)Bigtechfundingtofintechcompaniesdroppedslightlyamidthepandemicasdealactivitytrendedup.Notablethemes:?

Bigtechcompaniesaretakingontheroleoffintechvendorsthroughpartnerships.AppleandGooglearealreadypartneringwithbankstoembedbankingintotheirservices,whileAmazonisseekingoutinstitutionallenderstoexpanditsloanofferings.Thesepartnershipspresentawin-winsituationfortechgiantsandlegacynamesalikeandhelpboostcustomerattractionandretention.?

Bigtechinvestmentinfintechcompaniesreached$2.2Bin2020,markinga4%dropfromthepreviousyear.Incontrast,dealcountincreased52%year-over-year(YoY),hitting32deals.Googleisthemostactivetechgiantfocusingonfintech.??Googleledbigtechinuniquefintechinvestments(23)between2020and2021year-to-date(YTD),followedbyAmazon(7).?

Butafocusonin-houseofferingscouldthreatenlegacybanksmovingforward.Moneymanagementisbecomingincreasinglyintertwinedwithnon-bankingapps(e.g.,socialmedia,communication),givingtechgiantsmoreincentiveandleveragetokeepfinancialofferingsin-house.Inbigtech’sracetobecomethego-toappforbanking,shopping,andconnecting,legacybanksfacethethreatofbeingfurtherpushedoutofthefinancialsystem.GV(GoogleVentures)isthemostactivebigtechventurearmbyawidemargin,participatingin45fintechfundingroundsbetween2016to2021YTD.7Note:“Bigtech”includesFacebook,Apple,Google,andAmazon.TECHGIANTSINFINTECHHowbigtechistransformingfintechProduct:WhatsApplaunchedP2PmoneytransfersinIndiaandBraziltoincreaseitsmarketshareindigitalpaymentsinemergingmarkets.Product:Facebooklauncheda“Shops”featureforFacebookandInstagramtofurthergrowitse-commerceoffering.Partnership:Thecompany’srebrandedcryptoproject,“Diem,”announcedSilvergateCapitalastheexclusiveissueroftheDiemUSdollarstablecoin,whichwillbelaunchedin2021.Product:ApplelaunchedanAmazonPrime-likesubscriptionservicecalledAppleOne,whichbundlesallofApple’sdigitalservices.ThelaunchsignalsApple’stransitionfromhardwaretosoftwareservices.Product:AppleintroducedAppleFamilyCardtohelpfamiliesmanagesharedfinancesinasingleapp,includingmoneymanagementservicesforparents,teens,andchildren.Acquisition:AppleacquiredpaymentsstartupMobeewavetoturniPhonesintomobilecontactlesspaymentterminals.Product:GooglerevampedGooglePayandlaunchedGooglePlex,amobilebankaccountintegratedintoGooglePay.Partnership:GooglepartneredwithShopifytogiveits1.7MmerchantsaccesstoconsumersonGoogleSearch.ThedealstrengthensGoogleSearch’spositionasthestartingpointforusers’shoppingjourneys.Partnership:GooglepartneredwithWesternUnionandWisetoofferinternationalmoneytransferservicesinIndiaandSingapore.The$470BremittancemarketrepresentsasignificantrevenueopportunityforGoogle.Partnership:AmazonpartneredwithMarcusbyGoldmanSachstofurtherscaleitsloanofferingstoAmazonsellersintheUS.Acquisition:AmazonacquiredIndia-basedfintechPerpule,whichoffersself-checkout,queuemanagement,andpaymentsservicesforofflineretailstores.TheacquisitionislinewithAmazon’sstrategyofgainingmarketshareinIndia’sgrowingdigitalpaymentsspace.8WhereBigTechIsMakingMovesMARKETDRIVERSWhat’sdrivingbigtechactivityinfintech?RiseofembeddedfintechGrowinginvestorinterestAsAPIsmakeitincreasinglyeasytoembedbankingservicesintoanyproduct,companiesacrossallFintechcompaniesraisedarecord$22.8BinQ1’21,a98%jumpquarter-over-quarter(QoQ).industriesaretakingstepstoaddnewrevenuelinesfromfinancialservices.DatanetworkeffectOpportunitytoscaleTechgiantsaresittingonmassiveamountsofconsumeruserdata,whichcanbeanalyzedtocreatetailoredfinancialproducts.Techgiantsalreadyhaveincrediblereachwiththeirsheerquantityofactiveusers,whichcanbeleveragedtodrivehigheradoptionfortheirfinancialservicesofferings.10INVESTMENTTRENDSHowbigtechhasinvestedacrossfintechTotaldisclosedfintechfundingthatinvolvedparticipationfrombigtechventurearms2016–2021YTD*Fundingamount($M)Dealcount404500300015000323020102120141310$1,379$2,891$2,253$2,158$1,297$4770201620172018201920202021YTD11*2021YTDasof6/10/2021.INVESTMENTTRENDSGoogle’sGVisthemostactivebigtechventurearminfintechNumberofuniqueinvestmentsmadebyGoogleandAmazon’sventurearms,2016–2021YTD10GradientVenturescapitalGGoogleVenturesAlphabetAmazonGoogle86420201620172018201920202021YTD12Note:GradientVentures,GoogleVentures,andcapitalGareventurearmsofGoogle(Alphabet).Amazon’sdealsincludedealsmadebyAmazonAlexaFund,itsventurearm.FacebookandAppledonothaveventurearmactivityyet.INVESTMENTTRENDSTopbigtechfundingrounds(2016—2021*)Dealdate//Dealamount($M)Totaldisclosedfunding($M)CompanySelectinvestorsDescriptionJan’18//$1,500MFeb’19//$1,000MApr’20//$600MFeb’16//$400MMay’18//$363M$5.03B$5.03B$2.6B$1.6B$5.8BKKR,BlackRock,Temasek,Google,SamsungVenturesGojekisanIndonesia-basedsuper-appthatoffersavarietyofservicesincludingtransportation,logistics,payment,fooddelivery.TencentHoldings,Google,MitsubishiCorporationGojekisanIndonesia-basedsuper-appthatoffersavarietyofservicesincludingtransportation,logistics,payment,fooddelivery.GoogleVentures,AndreessenHorowitz,GeneralCatalyst,SequoiaCapitalStripeisanonlinepaymentprocessingplatformthatgivesonlinemerchantstheabilitytosecurelyacceptcreditcardpaymentsthroughcustom-builtforms.GoogleVentures,FoundersFund,KhoslaVentures,GoldmanSachsOscarHealthisahealthinsurancecompanythatofferspersonalizedanddigitalinsuranceservices.KleinerPerkinsCaufield&Byers,SequoiaCapital,DSTGlobal,capitalGRobinhoodallowsuserstoinvestinUSstocksandETFscommission-free.ItalsooffersRobinhoodGold,apaidserviceforinvestorstoaccessmarginandextendedhourstrading.13*2021YTDasof6/10/2021.INVESTMENTTRENDSTopbigtechacquisitions(2016—2021*)Dealdate//Dealamount($M)Totaldisclosedfunding($M)CompanyAcquirerDescriptionAug’16//$100MJul‘20//$100MAug’18//$45MMar’21//$20.4MFeb’19//N/A$2MGoogleOrbitera’sCloudCommercePlatformenablesmulti-channelsoftwaredeliveryandcommerceoncloudplatforms.$26.5M$23.3M$5.4MN/AAppleMobeewaveofferstechnologythatallowsphonestosecurelyreceivepaymenttransactionsmadewithcontactlesscardsandwallets.AmazonAmazonFacebookTapzoisachat-basedpersonalassistantappthataggregatesdifferentappsinoneplace,includingcategorieslikecabs,food,recharge,billpayment,news,horoscopes,andmore.PerpuleisanIndia-basedself-checkout,queuemanagement,omnichannelengagement,andpaymentsplatformforofflineretailstores.Chainspaceoffersasmartcontractdevelopmentplatformthatfacilitatespaymentsandotherservicesthroughblockchaintechnology.14*2021YTDasof6/10/2021.FacebookWHEREFACEBOOKISFOCUSINGPAYMENTSE-COMMERCECRYPTOCURRENCYFacebookaimstoconsolidateitspaymentsstrategyacrossdifferentapps.Facebookrecommitstobuildingane-commerceempire.Facebookscalesbackandrebrandsitscryptocurrencyinitiative.16Theme1:FacebookaimstoconsolidatepaymentsstrategyacrossdifferentappsFACEBOOKINFINTECH…andformsanewdivisiontooverseeallpaymentsefforts?

InAugust2020,Facebookannouncedtheformationofanewteam,FacebookFinancial(F2),tobuildacohesivepaymentsstrategyacrossFacebook,Instagram,WhatsApp,andPortal.?

FacebookFinancial(F2)willberunbyDavidMarcus,anexecutivewholedFacebook'sMessengerunitbeforelaunchingFacebook’scryptocurrencyprojectDiem(previouslyLibra).18FACEBOOKINFINTECHWhatsAppstartsP2PmoneytransferserviceinIndiaandBrazilFacebookrelaunchesWhatsAppmoneytransfersinBrazilInMay2021,WhatsApprelauncheditsP2PmoneytransferservicesinBrazil,afteritwasblockedbythecentralbanknearlyayearago.May4,2021NUMBEROFWHATSAPPANDFACEBOOKUSERSBYCOUNTRY400MWhatsAppusersinIndia120MWhatsAppusersinBrazilUserscannowsendmoneythroughWhatsAppinIndia’smassivedigitalpaymentsmarketNov6,2020FacebookplanstoturnmessagingappWhatsAppintoamoney-makingbusinessNovember9,202019Source:eMarketerFACEBOOKINFINTECHPaymentscurrentlymakeuplessthan3%ofFacebook’srevenuePaymentsandotherfeescurrentlycomprise~2.8%ofFacebook’stotalrevenue$25.4B$732M20Source:Statista,Facebook10-KTheme2:Facebookrecommitstobuildingane-commerceempireFACEBOOKINFINTECH….andlaunchesShopsacrossFacebookandInstagram$30BFacebookShops’estimatedrevenueopportunity,perDeutscheBankFacebookandInstagramrolloutShops,turningbusinessprofilesintostorefrontsMay19,2020?

ShopsallowretailerstoeasilyuploadtheirproductcatalogsandbeginsellingthroughFacebook.FacebookRollsOutShopstoBusinessesintheUKandCanada?Customerscanbrowseandbuyproductsdirectlyfromabusiness’FacebookpageorInstagramprofile.February23,2021?

CustomerscanpaythroughFacebookPayandcarrytheirpaymentcredentialsfromoneFacebookapptoanother.22FACEBOOKINFINTECHThegrowing‘creatoreconomy’willbeabigleverageinInstagram’se-commercepushInstagramishometo30Mamateurcreatorsand500Kprofessionalcreators23Source:Instagram,ForbesFACEBOOKINFINTECHInstagramaimstogrowthecreatorclassbygivingthemmorewaystomakemoneyCustomerInsightsBrandedContentTagsonReelsIGTVAdsBadgePurchasesonLiveVideosfromReels24Source:InstagramforBusinessFACEBOOKINFINTECHInstagramisalreadythego-toapptoconnectwithbrandsInstagramisthemostpopularapptofollowbrands200M90%NumberofbusinessaccountsonInstagram.OfallInstagramusersfollowabrand.2in350%SayInstagramenablesinteractionwithbrands.AremoreinterestedinabrandwhentheyseeadsforitonInstagram.25Source:MarketingCharts,Instagram“Wehavealongwaytogotobuildoutafull-featuredcommerceplatformacrossourservices,andthisisamultiyearjourney,butIamverycommittedtogettingthere.Thismoderncommercesystemisgoingtobringtogetheranumberofareaswhereweeitheralreadyhavestrongofferings,likeinads,communitytools,andmessaging,withareaslikeShops,businessmessaging,andpaymentsthatwe'refocusedonrampingupnow.”MarkZuckerberg,CEO,Facebook,26Source:Q1’21EarningsCallTheme3:FacebookscalesbackandrebrandsitscryptocurrencyinitiativeFACEBOOKINFINTECHLibratoDiem:Facebook’srebrandedcryptoinitiativeisexpectedtolaunchin2021?

PayPal,Visa,Stripe,Mastercard,?

DiemabandonsitsSwissandMercadoPagodropoutoftheLibraproject.licenseapplicationandplanstomovetotheUS.?

Facebookannouncesthelaunchofanew?

LibraappliesforapaymentsystemlicensefromFINMA,theSwissFinancialMarketsSupervisoryAuthority.cryptocurrencycalledLibra,alongwithadigitalwalletsubsidiarycalledCalibra.?

Regulatorsquestiontheproject’spotentialriskfortheglobalfinancialsystem.?

Diempartnerswithcrypto-friendlybankSilvergatetoissueaUSdollar-backedstablecoin.?

FacebookrebrandsitscryptocurrencyprojecttoDiemandchangesthenameofitsdigitalwallettoNovi.?

HouselawmakersofficiallyaskFacebooktoputtheLibra?

Facebookformsanewteamtoexploreblockchain?LibrapartnersincludeVisa,Stripe,PayPal,Uber,eBay,andMercadoPago.cryptocurrencyprojectonhold.opportunities.2018June2019October20192020202128FACEBOOKINFINTECHDiemFactSheetDiemAssociation:CurrentMembersPayments?

Diem(formerlyLibra)isapermissionedblockchain-basedpaymentsystemproposedbyFacebook.Technology?

Theproject,currency,andtransactionswillbemanagedbytheSwitzerland-basedDiemAssociation,anindependentorganizationwithmembersfromawiderangeofindustries.VentureCapital*?

TheDiemAssociationplanstolaunchmultiplestablecoinsbackedone-to-onebydifferentgovernment-backedcurrencies,aswellasonemulti-currencycoin.CryptoTelecomNon-profit?

Thefirstcoin,asinglestablecoinpeggedtotheUSdollar,isexpectedtolaunchinapilotprograminthe2021.SilvergateBankwillbetheexclusiveissueroftheDiemUSDstablecoin.29KEYTAKEAWAYS&IMPLICATIONSFacebook’splanspointtokeytrendsfor2021RiseofdigitalpaymentsinemergingmarketsSocialmediaappsturnintoe-commercehubsThemeThecryptoraceofthefutureTakeawaysDevelopingcountriesarebecomingincreasinglycashlessthroughquickadoptionofdigitalpaymentssolutions,andtheyrepresentahugerevenueopportunityforbigtech’spaymentsofferings.Onlineshoppingisbecomingincreasinglyintertwinedwithsocialmedia,asusersseesocialmediaplatformsasatooltoconnectandinteractwithbrands.Whilemosttechgiantshavekeptcryptoatanarm’slength,FacebooktooktheoppositeapproachwithitsDiemstablecoinproject.ImplicationsWhatsApp’slargestmarketsintermsofuserbaseareIndiaandBrazil,whichwillgiveFacebooksignificantleverageingrowingitspayments/moneytransferuserbaseinthesecountries.Instagramalreadyisthego-tosocialmediaapptoconnectwithbrands.Byofferingmoremonetizationtoolstobusinesses,Instagramwilllureinmorebrandsandshopperstoitse-commerceecosystem.IfFacebook’sDiemcanovercometheregulatoryhurdlesandlaunch,thecompanywillhavethefirst-moveradvantageinthecryptospace.30AppleWHEREAPPLEISFOCUSINGE-COMMERCE(SERVICEBUNDLING)PAYMENTSSHAREDFINANCESAppleistransitioningfrom“hardware”to“software”bybundlingservicesacrossentertainment,news,payments,etc.Appleacquiressoftwaretechnologythatenablesphone-to-phoneApplegrowsthescopeofitsAppleCardbusinessandlaunchestheAppleFamilyCard.transactions.32Theme1:Appleistransitioningfrom‘hardware’to‘software&services’APPLEINFINTECHApple’sevolutionintoaservicecompanySelectofferingsincludedinAppleServices:AppleMusicAppleTV+iCloudApplePayLaunchedon:Nov1,2019Dec20,2020Mar25,2019Sep19,2019AppleNews+AppleBooksAppleArcadeAppStoreOct30,2020Aug20,202034APPLEINFINTECHApplelaunchesall-in-onesubscriptionserviceAppleOne,similartoAmazonPrimeApple’snewsubscriptionbundleAppleOnetakesapageoutofAmazonPrime’splaybook?

AppleOneisapredictablestepinApple’soverallshifttowardInSeptember2020,ApplelaunchedAppleOne,atieredsystemofsubscriptionsthatgivesusersaccesstoarangeofApple’sdigitalservices,includingAppleMusic,AppleTV+,AppleArcade,AppleNews+,AppleFitness+,andiCloud,foronemonthlyprice.recurringsubscriptions.?

SimilartoAmazonPrime,AppleOnebundlesaredesignedtoencouragecustomerstosubscribetomoreAppleservices,whichwillgeneratemorerecurringrevenueandboostcustomerloyalty.AppleOnevsAmazonPrime:Whichsubscriptiondealoffersbettervalue?AppleOnesubscriptionbundleismissingakeyelement:TheiPhoneMar18,2021|Sep16,2020|35APPLEINFINTECHAppleServicesrevenuedoublesin2020andsetsanewrecordinQ2’21Appledoubledrevenuefromservicesin2020AppleServicesbroughtinrecordrevenueinQ2’21??In2017,AppleCEOTimCooksetagoaltodoubleApple’s2016services*revenueby2020.In2020,Applehitthatgoal6monthsaheadofschedule,andreported$13.16Binservicesrevenue(about22%ofthecompany’stotalsales.)Applereached660MpaidsubscribersacrossitsServicesportfolio36Note:AppleServicesrevenueincludesrevenuefromiTunes,AppStore,AppleMusic,AppleCare,ApplePay,iCloud,AppleTV+,AppleNews+,andAppleCard.Theme2:Applemaysoonintroducephone-to-phonetransactionsAPPLEINFINTECHAppleacquiresMobeewavetoturniPhonesintomobilepaymentterminalsANEWCONTACT-FREEPAYMENTSMETHOD?

AppleacquiredCanada-basedpaymentsstartupMobeewavefor$100MinJuly2020.?

Mobeewave’stechnologyallowsmerchantstousetheirsmartphoneasapaymentterminal.Customerspaybytappingtheircreditcards.?

ByincorporatingMobeewave’sfeaturesintoApplePay,Applecanofferquickpaymentsandtransferswithoutanyotherapporplatform.38Theme3:ApplegrowsthescopeofitsAppleCardbusinessAPPLEINFINTECHAppleCardovercomesgenderbiashurdles,seessteadygrowthinuserbaseAPPLECARDMILESTONES,2019–2021:?

August2019:AppleCardlaunchesinpartnershipwithGoldmanSachsandMastercard.?

November2019:CustomersraiseconcernsovergenderbiasinAppleCard’salgorithm.?

March2020:AppleCardusersreach3.1M.?

March2021:InvestigationclearsGoldmanSachsofblameintheAppleCardgenderbiascase.?

May2021:AppleCardusersreach6.4M,42%ofwhomarewomen.Additionally,itisestimatedthat80%ofallnewusersin2020werewomen.40Sources:Forbes,CornerstoneAdvisorsAPPLEINFINTECH…andintroducesAppleFamilyCardtohelpfamiliesmanagesharedfinancesNewAppleCardFamily:AppleintroducesAppleCardFamily,enablingpeopletoshareAppleCardandbuildcredittogether?

AppleCardFamilyallows2ormorepeopletoco-ownanAppleCardandshareandmergetheircreditlines.April20,2021|?

Userscantrackpurchases,managespending,andbuildcredittogetherwiththeirFamilySharinggroup.Clearedofgenderbias,AppleannouncesAppleCardFamilyforspousesandteens?

ParentscanshareAppleCardwiththeirchildren(ages13andup)andsetspendinglimitstoteachsafeandsmartfinancialhabits.April20,2021|41APPLEINFINTECHAppleCardhasthepotentialtoreachmillionsofconsumersacrossApple’secosystemAppleCardmarketeddirectlytomillionsofiPhoneusersAppleCardusedforpaymentsonlineandinstoresDailyCashinjectsliquidityintoApplePayApplePayenablescommerceacrossApple’secosystem42KEYTAKEAWAYS&IMPLICATIONSApple’splanspointtokeytrendsfor2021ThemeMovefromhardwaretosoftwareKidsbankingsectorgrowsContact-freepaymentalternativesTakeawaysWhileAppleisunquestionablyahardwaregiant,thecompanyisgrowingits“services”portfolio,whichincludesentertainment,news,music,iCloud,payments,andmore.Challengerbanksthattargetteensandchildren(e.g.,Greenlight,Current)reachedrecordvaluationsin2021,bringingmoreattentiontothiscustomersegment.TheCovid-19pandemicunderscoredtheimportanceofcontactlesspaymentmethods,especiallyformerchantswithretaillocations.ImplicationsAsApplegrowsitsbankingproduct,itsvastnetworkofactivedevicesandserviceswillbeacriticalleverinfurtherlockingcustomersintheAppleecosystem.Apple’slaunchofAppleCardFamilyisadirectattempttocapitalizeonthegrowingteen/children’sbankingtrend.Apple’sacquisitionofMobeewavewillhelpturniPhonesintocontact-freemobilepaymentterminals,withoutrequiringanyadditionalhardware.43GoogleWHEREGOOGLEISFOCUSINGPAYMENTSREMITTANCESE-COMMERCEGooglerevampsitsGooglePayappandaddsdigitalbankingoffering.Googlestepsintotheremittancemarketthroughpartnerships.Googlewantstoconqueronlineshoppingnext.45Theme1:GooglerevampsitsGooglePayapp&addsdigitalbankingofferingGOOGLEINFINTECHGooglePaygetsarevamp,aimstobethenextall-in-onemoneyapp150M+monthlyusers30countries?

Peer-to-peerpayments?

Paymentstogroupsandbusinesses?

TransitandparkingpaymentsonPaymentsGoogleMaps?

Detailedsavingandspendingsummaries?

Spendingtrends&insightsPersonalFinanceDeals?

Discountsandoffersthatcanberedeemedwithonetaporautomaticallyappliedinstoreoronline.?

DigitalbankaccountwithtrustedBankingfinancialinstitutions.*47*Tobelaunchedin2021.GOOGLEINFINTECHPartnershipsdriveGoogle’sinitiativesindigitalbankingGooglePartnersWithCititoOfferCustomersCheckingAccountsGooglesignsupsixmorepartnersforitsdigitalbankingplatformcomingtoGooglePayNov13,2019|August3,2020|BBVAUSAannouncescollaborationwithGoogletoofferdigitalbankaccountsGooglerevampsGooglePayapp,adds11bankpartnersAugust3,2020|Nov18,2020|48GOOGLEINFINTECHGoogle’sstrengthliesintechnology,data,andmerchantrelationshipsDATA&ANALYTICSUSEREXPERIENCE?Googleacquiresanendlessamountofdatathroughitssearchengineandotherservices.?Googleprovidesanoptimizedconsumer-facingfront-endforitsservices.MERCHANTRELATIONSHIPSBRANDRECOGNITION?Google’sbrandrecognitiongivesitsignificantleveragetoboostcustomeracquisitionefforts.?GooglealreadyhasstrongmerchantrelationshipsthroughitsGoogleforRetailservice.49GOOGLEINFINTECHGooglePlex:amobile-firstbankaccountintegratedintoGooglePayGOOGLEPLEXBUNDLESGOOGLEPAYFEATURESWITHBANKINGIn2021,GooglePayuserswillbeabletoopenGooglePlexbankaccountsontheapp,supportedbyGoogle’s11bankpartners.*GooglePlexaccountswillbebundledwithGooglePayfeatures,including:?

Nomonthly&overdraftfeesorminimumbalancerequirements?

Digitalorphysicaldebitcard?

AI-poweredspendingandsavingsinsights?

Moneytransfers,expensetracking,&billsplitting?

GooglePhotosintegrationforreceipts?

Offers&rewardprogramswithpopularbrandssuchasTarget,Etsy,Sweetgreen,andWarbyParkerNote:Google’sbankpartnersincludeBankMobile,BBVA,BMOHarris,Citi,StanfordFederalCreditUnion,FirstIndependenceBank,SeattleBank,TheHarborBankofMaryland,GreenDot,SEFCU,andCoastalCommunityBank.50GOOGLEINFINTECHPlexputsdataprivacy&securityfirstGOOGLEPLEXPRIVACYSETTINGSGIVEEVERYONEACHANCETO‘OPTOUT’GooglePaywon’tuseindividuals’transactionhistorytopersonalizetheirappexperienceunlessexplicitlygrantedpermission.GooglePayalertsuserswhentheybeginatransactionwithastranger(apersonnotontheircontactlist).Userswillbeabletotestrunthepersonalizationfeaturefor3monthsbeforedecidingwhethertoactivateit.GooglePaywon’tselluserdatatothirdpartiesorsharetheirtransactionhistorywiththerestofGoogleforadtargeting.51Theme2:GooglestepsintotheremittancemarketGOOGLEINFINTECHGoogleentersthe$470BremittancemarketviapartnershipswithWiseandWesternUnionGOOGLEADDSINTERNATIONALMONEYTRANSFERSERVICEGooglePaylaunchesinternationalmoneytransferswithWiseandWesternUnion?

GooglePayusersintheUScannowsendmoneytoGooglePayusersinIndiaandSingapore.May11,2021|?

AllinternationalmoneytransferswillbeenabledthroughGooglePay’snewintegrationwithWesternUnionandWise.GooglePaynowletsU.S.userssendmoneytoIndiaandSingapore?

Bytheendof2021,GoogleexpectsUS-baseduserstosendmoneyto200+countriesthroughWesternUnionand80+countriesthroughWise.April21,2021|53Source:TheKeyword(GoogleBlog)GOOGLEINFINTECHGooglePaycapturessignificantmarketshareinIndia,seesopportunityinAPACInFebruary2021,GooglePayprocessed36.1%ofallofIndia’stransactions,comingsecondafterWalmart-ownedPhonePeGoogle’sremittanceserviceswillbeakeydifferentiatorinbothIndiaandtherestofAPAC*?

DevelopingcountriesintheAPACregionarebecomingincreasinglycashless,andtheregionisoneofthefastest-growingpaymentsmarkets.?

Google’sremittanceservices,onceexpanded,willworkasakeydifferentiatorinthisregionandboostGooglePay’scustomerattractionandretention.?

WithregionalpaymentgiantsAlipayandTencentfacingpressurefromtheChinesegovernment,there’salsoanewwindowofopportunityforGoogletobecomethego-tomoneyappinthisregion.54UPI:UnifiedPaymentInterfaceSource:TheEconomicTimes,TheNationalPaymentsCorporationofIndia(NPCI)Theme3:GooglewantstoconqueronlineshoppingnextGOOGLEINFINTECHGoogleannouncespartnershipwithShopify,nowdirectlycompeteswithAmazonKEYTAKEAWAYSFROMTHEGOOGLE+SHOPIFYDEAL?TheGoogle+Shopifyintegrationwillallowmerchantstomoreeasilysignuptofeaturetheirproductsappearacros