(click to enlarge) WePay partnership also involves mobile shopping. It is my opinion that WePay's large portfolio of clients can help close the gap between PayPal and Google Wallet.

The race is not over yet investors should note that Google Wallet is No.2 (40%), just behind PayPal (79%). As of August last year, PayPal was still the most used digital wallet service among American shoppers. The alliance with WePay might help Google Wallet improve its market share among digital shoppers in the U.S. Launched only in 2009, WePay is emerging as a fierce rival of PayPal when it comes to providing websites with merchant accounts. WePay is the first payments platform provider to integrate Google Wallet and it competes with market leader PayPal, which will soon go independent from eBay ( EBAY). While Softcard is mainly to allow mobile shoppers to use their phones to pay at more than 200,000 physical retail stores, WePay now allows more than 200,000 online shops to accept payments via Google Wallet. More than 200,000 clients are using WePay's services. WePay is a leading payments platform provider for online stores, small/medium businesses websites, and crowdsourcing sites.

Google has struck a deal with payment processor WePay to use the Google Wallet API. Aside from making a play to acquire Softcard, Google ( NASDAQ: GOOG) ( NASDAQ: GOOGL) is aggressively expanding the total addressable market of Google Wallet.

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