Both Google and Meta are expanding their territory into fintech, but the gap is clear so far.

According to a recent Forbes report, Google has secured more than 150 million users for Google Pay mainly in India and the United States, while Meta has failed to show a clear presence since its Diem cryptocurrency project collapsed.

A “utility-focused strategy” is cited as the backdrop to Google’s success with Google Pay. The explanation is that it has integrated Google Wallet functions into key platforms such as Android, Gmail and Chrome, and linked them with hardware such as NFC to support smooth payments.

Google is also supplying AI and cloud-based financial solutions while collaborating with global banks such as Wells Fargo, Deutsche Bank, UniCredit and HSBC. By contrast, Forbes reported that a string of scandals at Meta, including personal data leaks and the spread of false information, has become an entry barrier in the form of “trust.”

The Diem project collapsed due to checks by U.S. and European regulators, and its assets were sold to Silvergate Capital. Meta has since been running WhatsApp Pay mainly in India, but its market share based on UPI (Unified Payments Interface), India’s real-time mobile remittance system, is not even 1 percent.

Indian regulators restricted the service for years over concerns Meta could monopolise the domestic market, and Forbes reported Meta has failed to present a differentiated strategy to break through. Google Pay, by contrast, has formed a two-horse race in the UPI market with Walmart-backed PhonePe and has continued an aggressive expansion, recently launching a RuPay-based digital credit card called Flex.