New hints suggest Google Pay could be set for a major change

Google’s plan to transform Google Pay from a simple mobile payment app into a “full-featured digital wallet” could be a step closer to being implemented now that a new “Wallet” icon has appeared.

As reported by 9to5Google who’s seen the icon in question, the search giant’s new “Wallet” icon uses the colors green, yellow, red and blue, just like Gmail, Drive, Meet and the rest of the company’s other mobile apps.

However, unlike the current GPay logo consisting of two interlocking multicolored arcs, the new icon features an actual wallet in blue with red, yellow and green cards inside. At the same time, the new icon is less obvious than the Google Pay icon which features a multicolored “G” next to the word “Pay”.

Not only is the new icon a welcome sight compared to those of GPay and Google Pay, but it also fits with Google’s plans to turn Google Pay into a complete virtual wallet that goes beyond payments.

A complete digital portfolio

After Google shut down its banking and personal finance service Plex in October last year, the company hired a former PayPal executive to help reset its strategy.

Google now wants Pay to “become the connective tissue of the entire consumer credit industry” according to Bloomberg and that includes collaborating with partners in the cryptocurrency space.

As Google Pay transforms from a mobile payment app to a full digital wallet, the service could also be used to store “digital tickets, plane passes and vaccine passports” in much the same way as Google Pay. Apple Wallet.

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While the new “Wallet” icon may end up replacing the current one for Google Pay, Google still has a lot of challenges ahead when it comes to payments. Indeed, GPay is available in the United States, India and Singapore, while Google Pay is available in the rest of the world. The two apps also have different functionality as GPay includes support for peer-to-peer payments, purchase of transit passes, payment for parking and gas, etc., while Google Pay only displays a carousel of stored payment cards and passes.

While the new “Wallet” icon hints at Google Pay’s future, we’ll have to wait to hear more from the company itself on how its mobile payment app will be transformed into a comprehensive digital portfolio.

Via 9to5Google

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