Google Ditches Debit Card for P2P Transfer

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Google HQ

Google will kill its prepaid debit card this June to re purpose it as a P2P payments app.

Wallet Card, which was launched in November 2013 lets users make payments at ATMs, banks and any business that accepts MasterCard Debit.

The project faced multiple roadblocks from the start when it was leaked way back in November 2012, shelved plans in May 2013 before its subsequent launch later that year.

As Android Pay is becoming Google’s mainstay for in-app purchases and third party payments, it makes little sense to continue two similar products. The company is referring Wallet users to American Express and online bank Simple by offering a sign up bonus.

“After careful consideration, we’ve decided that we’ll no longer support the Wallet Card as of June 30. Moving forward, we want to focus on making it easier than ever to send and receive money with the Google Wallet app”

Last month (February 23) Google shut down its financial products comparison tool, Compare.

Last modified: April 1, 2016

Category: p2p lending, payments

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