GPay service to shut down in the US from June 4, to promote Google Wallet
Google's decision to phase out Google Pay in favour of Google Wallet has marked as a significant shift in its digital payment strategy. It focuses on Google Wallet which is expected to simplify and improve the payment process for the users, providing a unified platform for all digital transactions.
Google has recently announced that its Google Pay (popularly known as GPay)- a payment service will be discontinuing its services in the United States starting from June 4 (2024). This move took place as Google seeks to promote its newly launched Google Wallet, which is aiming at streamlining its digital payment offerings.
Introduction of Google Wallet
Google has recently introduced Wallet in India, presenting it as a comprehensive digital wallet solution for users. With the launch of the new Wallet app, the decision to shut down Google Pay in several countries is said to be a part of Google's strategy to boost the adoption of Google Wallet in the regions.
What will be the impact on other countries?
While Google Pay will be discontinued in the US and other unspecified countries, the service will continue to operate as it is, in India and Singapore. Also, in these regions, Google Pay will remain a standalone app, which will enable users to make UPI payments and other transactions without interruption.
No effect on Indian users
Google has further assured the Indian GPay users that the shutdown of the app is taking place in the US and it will not impact the services of the country. Both Google Pay and Google Wallet will function independently and will cater to the vast number of Google Pay users in India.
Indian users will continue to use GPay for their payment needs along with Google Wallet.
What will happen to the transferring balances?
Google has advised US users to transfer their Google Pay balances to their bank accounts by June 4. Despite the shutdown, popular features like Tap to Pay will still be accessible via Google Wallet. Users will also be able to make online payments via Google Wallet.
After June 4, balance transfers from Google Pay to bank accounts can be completed only via the official website of the company.
Expansion of Google Wallet
Google Wallet was first launched in the US market in 2022, and it was designed to serve as a private digital wallet for the users. It could be downloaded from the Google Play Store and would offer a range of digital payment services, that includes contactless payments.
By integrating Google Pay into Google Wallet in the US, Google further aims to provide users with a seamless and enhanced payment experience.
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