Google on Monday announced that it is merging Android Pay and Google Wallet into a single payments platform - Google Pay. This new service is expected to be available online, in store (NFC payments), and across several Google Products including Tez.
"With Google Pay, it'll be easier for you to use the payment information saved to your Google Account, so you can speed through checkout with peace of mind," said Pali Bhat, VP of Product Management, Payments at Google.
As we mentioned, Google is launching its new integrated payments service, Google Pay. Android Pay and Google Wallet branding will be replaced by Google Pay branding. To recall, Android Pay was launched back in 2015 as way to make payments at stores, but soon expanded to get in-app purchase support and integration with mobile banking apps.
The Google Pay service has already been rolled out to apps including Airbnb, Dice, Fandango, HungryHouse, Instacart, and others. Google is also running limited period offers with B&H, Fandango, and Instacart.
Recently, Google rolled out its 'Pay With Google' feature that upgrades the traditional checkout process to make online purchases faster across services such as Google Play, YouTube, and Chrome. Much like 'Pay With Google', developer information for Google Pay has also been released.
Google, in the blog post, also hinted that it "will also be bringing these experiences to Tez users in India." There is no clarification on whether Tez will be rebranded to Google Pay or not. This is of particular interest as Tez is based on the UPI interface. We will keep you updated on the developments.
Google Pay is another one of Google's numerous experiments in the digital payments market. With the new branding, the Mountain View giant is apparently looking to streamline operations, much like Apple and Samsung are attempting with their respective Apple Pay and Samsung Pay platforms.