Google ditches Wallet debit card

Google ditches Wallet debit card

Google is killing off the physical debit card linked to its Wallet app, which has been usurped as the tech giant's main instore payments service by Android Pay and now focuses on P2P transactions.

In a blog, Google says that customers will no longer be able to add money to their Wallet balance after 1 May and that transactions will not be processed after 30 June.

Google Wallet initially only let users make in-store purchases via mobile NFC but, thanks to a limited number of compatible handsets and the refusal of telcos AT&T, T-Mobile and Verizon to back it, the service failed to take off, prompting the introduction of a physical card in late 2013.

However, two years on the landscape has changed dramatically. Contactless terminal penetration has risen sharply, the telcos have ditched their rival service and sold their Softcard tech to Google, which has taken a second crack at the NFC payment market through Android Pay.

As a result Google Wallet has been given a makeover, focussing peer-to-peer payments and wallet-to-bank transfers, making the physical card obsolete.

Google has not provided figures on how many physical cardholders it has but is advising those that want a similar product to investigate options from Simple and American Express.

Comments: (1)

A Finextra member
A Finextra member 01 April, 2016, 16:25Be the first to give this comment the thumbs up 0 likes

April foll's day information?