Google is retiring a popular payment app users love

Google has changed its mind about one of its beloved payment apps. The tech giant has announced that it is killing Google Pay in the U.S., which was first introduced as a replacement for Google Wallet a few years ago, and users will only have a few months to transfer their balances to their bank accounts.

“Google Wallet continues to be the primary place for people to securely store payment cards used for tap and pay in stores, alongside other digital items like transit cards, driver’s licenses, state IDs and more,” said Google in an update on its website. “To simplify the app experience, the U.S. version of the standalone Google Pay app will no longer be available for use starting June 4, 2024.”

Related: Google Drive malfunction has become a nightmare for users who rely on the platform

Google  (GOOG)  also informed users in the update that the app will still only be available in India and Singapore due to “unique needs in those countries.” 

Google Pay was first launched in 2018 after Google Wallet and Android Pay merged to form the app. At the time, Android Pay allowed users to make payments through their phones, and Google Wallet facilitated peer-to-peer payments. Google Pay was meant to be a replacement for both apps as it contained both of their features.

Currently, Google Pay is the top third go-to mobile pay app in the U.S. Starbucks ranks No. 2 and Apple Pay is No. 1, according to data from Insider Intelligence. Even though Google Pay has over 150 million users worldwide, its popularity is apparently unmatched compared to Google Wallet, which Google claims is “used five times more than the Google Pay app in the U.S.”

A customer uses the Google Pay digital payment system at a medical supplies store in Mumbai, India, on Saturday, July 17, 2021. 

Bloomberg/Getty Images

Google Wallet will now be the primary home where users will be able to access features such as managing payments methods and tapping to pay in stores, but users will be unable to send or receive payments from others.

The move from Google comes after it recently had to clear up speculation and panic from users that it was deleting its email service Gmail, which was sparked by a tweet on social media platform X that showed a screenshot of what appears to be a fake email informing users that the app was being discontinued.

“After years of connecting millions worldwide, enabling seamless communication, and fostering countless connections, the journey of Gmail is coming to a close,” read the message in the screenshot.

Google replied to the speculation on X in a tweet that said “Gmail is here to stay.”

Related: Veteran fund manager picks favorite stocks for 2024

Related Posts

Union Capital Financial Group Ltd, registered in the British Virgin Islands, does not provide investment services inside the United States. The company only provides consulting, advisory and educational services.