FinAi News

No products in the cart.

Subscribe
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
Log In
No Result
View All Result
  • Banking
  • Lending
  • Payments
  • Risk & Security
  • Strategy
FinAi News
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
BAN PLUS
Log In
No Result
View All Result
FinAi News
No Result
View All Result

Is Google Starting to Back Away From Google Wallet Card?

JJ HornblassbyJJ Hornblass
February 9, 2016
in Banking, Payments, Risk & Security
Reading Time: 2 mins read
0
Share on Facebook

google_wallet_imgGoogle has split its Wallet service into Android Pay and a Venmo-like peer-to-peer payments service.

Now Google appears to have started to phase out the Google Wallet Card, which is a debit card issued by The Bancorp.

To be sure, consumers can still order a Google Wallet Card here — I did so today, in fact. Additionally, Google (and The Bancorp) still supports the card.

But the official Google Wallet FAQ has recently removed a reference to ordering new cards. When exactly Google might eventually phase out the Google Wallet Card entirely from its product menu is unclear, however.

The Bancorp still provides Google customers with a “virtual account number” for Android Pay.

There has been perhaps no venture in digital payments that has pivoted as much as Google since its launch of Google Wallet in May 2011. Killing off the debit card would be Google’s fifth payments pivot, by our count — that’s got to be some sort of record.

There is some surprise should Google spike the debit card. The debit card, when introduced, was a practical solution to a KYC nightmare. Here’s how one former Google employee explained it to us:

Debit cards are global. With this one change (adding a debit card), Google has a money movement service that can achieve global scale very quickly. The former [Google Wallet] product would have taken a decade to scale globally, because of the regulatory overhang of managing funds vs now they simply use the network to register a credit and debit – Google doesn’t need to store the funds.

Perhaps not so simple, after all, it seems.

Another factor behind the introduction of the card was that the mobile carriers made Google Wallet transactions difficult — they were busy building their own mobile payments solution, Isis, later SoftCard, later bought by… Google. Users couldn’t easily use Google Wallet on their phones to pay. Today, with Android Pay, there is simply less reason for the card. The promise of Google Wallet, in other words, is, perhaps, finally being realized.

Tags: Android PayGoogleGoogle WalletIsisKYCSoftcardThe Bancorpwallets
Previous Post

Stash Asks Millennials to Skip the Beer and Invest the $5 Instead

Next Post

The missing piece of the SME financing puzzle

Related Posts

MIcrosoft Cloud
Banking

Dollar Bank taps Microsoft Copilot for personal assistants

July 28, 2026
humans and AI work together to pinpoint risk and suspicious activity
Risk & Security

Retaining the human component as AI combats fraud

July 28, 2026
(Courtesy/Happen Bank)
Banking

Happen Bank attributes loan volume growth, call center staffing declines to AI

July 28, 2026
Next Post

The missing piece of the SME financing puzzle

Please login to join discussion

EMERGING FINTECH DIRECTORY

Emerging Fintech Directory

The Buzz Podcast

SPONSORED

Build an Antifragile Strategy to Outperform the Market

July 14, 2026

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

April 19, 2026

Is Your Technology Supplier There for You?

April 1, 2026

  • About Us
  • Help Center
  • Contact Us
  • Privacy Terms
  • ADA Compliance
  • Advertise

 [wt_cli_manage_consent]

Connect

twitter linkedin podcast podcast podcast
© 2026 Royal Media
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Unlock This Article

Create your free FinAi News account to access this article and stay informed on how AI is transforming financial services including banking, lending, payments, and risk.

Yes, I'd like to receive FinAi News updates, breaking news, and exclusive AI insights for financial services leaders.

Continue Reading with FinAi News Premium - Less than $2/Day

Upgrade to FinAi News Premium for unlimited access to news, insights, trends, and intelligence on how AI is transforming financial services including banking, lending, payments, and risk.
Upgrade to FinAi News Premium Subscription
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account