With many tech companies dipping their toes in the personal finance pool, it won't be long before we see Google attempt to do the same. Google confirmed today that it will soon begin offering checking accounts to its user base. Internally, this new service is code-named Cache, and it seems the big G has plans to launch it at some point in 2020.
Google isn’t exactly known for always having a coherent product message and lineup. Just take a look at its current mess of messaging apps and services, not to mention those that it already retired. To a lesser extent, that is the same situation with its mobile payment systems, previously comprised of Android Pay, Google Wallet, and, if you’re in India, Tez. “Previously”, because Google is now combining two of those, namely Android Pay and Google Wallet, into a single “Google Pay” brand to reduce, or increase, confusion.
‘Tis the season for giving. Or so they say. Sometimes, however, it’s also the season for giving back. Yes, we’re talking about that money you owe your best bud from your last Starbucks. OK, so maybe that’s not the only reason you need to send someone money or even, gasp, ask for money, but whatever the reason, Google is making it a lot easier to do just that. The new Google Wallet web experience isn’t just snazzier, it also lets you send and request payments right then and there on your browser, no apps needed.
Google has rolled out an update to the Google wallet app that will make it easier to get the money you are sent from other users into your bank account, the new feature is an automatic transfer that no longer requires you to cash out money from your Wallet balance. The new feature is meant to decrease the time it takes for Wallet users to get hands on their cash.
The update bringing the automatic transfers will land on Friday with the feature rolling out over the week after it debuts. Google Wallet has always been a PayPal competitor and transitioned solely to peer-to-peer payments last year with the roll out of Android Pay. Emails went out to Google Wallet account holders back in March telling them that the Wallet debit card was going away.
![Google Wallet Debit Card going away [UPDATE: Confirmed]](https://www.slashgear.com/wp-content/uploads/2016/03/googlewallet.jpg)
Google's physical card version of Google Wallet will no longer be supported by the company as of the 30th of June. This information comes from an app teardown performed by Android Police, where they've found the mention within the Google Wallet app itself. Like so many projects that didn't gain traction in the public for a wide variety of reasons, this project is headed out. The good news is - you'll not have to worry about transferring your money out.
The arrival of Android Pay meant that Google Wallet's existence has become redundant. But rather than retire an already existing, not to mention already used, brand, Google decided to give Wallet a different raison d'etre. It has repurposed it to become a peer to peer money transfer platform, something that, to be honest, could have also been part of Android Pay anyway. Now Google is expanding its capabilities and ease of use even more by allowing people to send money to anyone who has a mobile phone number.
The Google Wallet app for iOS has received a substantial update this week, introducing not only a refreshed UI design, but also the ability to make peer-to-peer payments to "anyone in the US with an email address," as Google puts it. Accompanying the release of Android Pay earlier this month, the same features were added to Google Wallet for Android devices. The new version of the iOS app is available now on the App Store.
Today Android devices everywhere* will begin to gain access to Android Pay. Just so long as those devices have NFC. *And just so long as they're inside the United States. Android Pay is a sort of re-branding of Google Wallet, a system where Google's devices handled your money from a variety of sources, allowing you to pay for items both in the physical world and digitally. Now with systems like Apple Pay and Samsung Pay on the rise, Google has changed the name.
Android Pay is still disappointingly a no show, but Google is slowly laying down the pieces for its inevitable launch. The latest and perhaps most acknowledge piece is the arrival of a new Google Wallet app. No, this isn't an update to the existing Google Wallet app but a completely new install. This rather strange, and maybe inconvenient, arrangement is being explained in a rather simple way: the old Google Wallet will be updated into thew Android Pay app once the latter finally launches to the public.
Well, it looks the Rite Aid company has made a drastic 180-degree turn in its contactless mobile payments policies. The pharmacy and drug store chain has announced it will be accepting Apple Pay and Google Wallet at its 4,600 locations across the US starting Saturday, August 15th. Those who've been following Apple Pay since its debut last fall now that this comes as a surprise, as roughly 10 months ago the company abruptly dropped support for the payment system, instead focusing on pushing the heavily criticized CurrentC.
Android Pay is coming, and it's impressively streamlined compared to the overly-complicated and feature-bulging Google Wallet. Officially revealed alongside Android M at Google I/O today, the mobile payments system supports both NFC for dropping virtual cash out in the wild, and in-app integration for retailers wanting to enable easy payments. I grabbed a Nexus 6 and a Nexus 5, both equipped with pre-release versions of Android Pay, to go shopping on Google's dime.
Paying for things without getting your wallet out is uniquely satisfying. Doing so with a wearable is even more intriguing. Those who aren’t interested in a smartwatch may still be able to pay for goods digitally, as a new report suggests Jawbone and American Express will partner for a mobile payment solution. Though the talk only suggests your American Express card will work with a Jawbone band, they don’t say which one. The latest Jawbone product, UP3, has NFC built in, but won’t be part of this mobile payment method.