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Google Wallet Gets an Update

NEW YORK ( TheStreet) -- In light of Square announcing Square Cash, and PayPal continuing its strength, Google (GOOG - Get Report) has updated its own mobile wallet offering, Google Wallet.

Google Wallet is now integrated within the leading Android apps and mobile sites. This should make paying with a Google Wallet account that much easier. Google Wallet can be used in a wide variety of ways, including Google Play, other sites, or in a store with the Google Wallet app. All consumers have to do is hit the "Buy with Google" button, verify their payment information and the transaction is completed.

This comes just a couple of days after Square, the popular mobile payments start-up, launched Square Cash, a feature to send money to others directly via email. Google also has this feature, though it's only available for Gmail users, whereas Square allows users to send money via any email address.

eBay's (EBAY - Get Report) PayPal unit, which experienced strong growth in the third quarter, also has a similar option, allowing users to send money via any email.

Google is slated to report third-quarter earnings Thursday after the close of trading. Analysts surveyed by Thomson Reuters expected Google to earn $10.34 per share on $14.79 billion in revenue, including traffic acquisition costs, during the quarter.

Shares of Google were lower in Thursday trading, off 1.1%, to $888.47.

-- Written by Chris Ciaccia in New York

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