Alphabet Inc (NASDAQ:GOOGL) is making plans to advance its mobile payment services, and it looks as if Google Wallet’s physical card might be terminated.
Google Wallet was launched in 2013 as the company’s main offering for mobile payments. The efforts of the company led to the launch of a physical Google Wallet card to supplement the service. The card was linked to the Google Wallet accounts of users and card holders were allowed to withdraw their funds at MasterCard outlets or in banks. Unfortunately, the card might soon be terminated.
Text embedded in the code for the latest update of Google Wallet claims that the physical card will no longer be supported. Users can continue using their cards up to June 30. However, they will not be able to top up their card balance as of May 1. The company stated that users will still get to use Google Wallet for payments and receipts, and Google is working on making improvements to those services.
The text also revealed the company’s plans to launch a new Wallet Card that will be available through the Google Wallet app. The card will have similar features to the physical card including ATM and MasterCard withdrawals in the US. The Google Wallet app will also feature a Wallet Card and balance section where users can check their card balance or perform other features such as canceling the card or locking it.
One of the main reasons why Google is terminating the physical card is because it did not manage to attract many users and it never really gained much fame. The new app is expected to launch after June 30. So far Google has not made any official announcements on the matter, but sources suggest that the text in the code reveals the fate of the physical Google Wallet Card. The company has also been placing a lot of focus on Android Pay, which gives users the option of making mobile payments for goods.