It is no secret that Google’s Wallet service has been troubling Google recently. The Search giant has been actively trying to get retailers, banks and consumers alike to take onboard the service for a long time now. That said, the adoption has been somewhat limited compared to what would be expected. The pressure further mounted on Google when Apple launched their mobile payment solution, Apple Pay, to a rather warm and welcoming audience. Since, Apple Pay launched, a number of partners have jumped on board with even the White House recently advising they will use the Apple Pay technology. What’s more, with the very recent news that Samsung have reportedly purchased LoopPay and plan to incorporate the tech into their devices, seems to add another nail into the Wallet coffin. After all, it is these third-party partnerships which will be the bread and butter of any Wallet service Google hopes to offer.
Well, the latest news on this comes from a report by the Wall Street Journal (source link below) and suggests Google is very much in preparation to reinvent and effectively relaunch Google Wallet. The report further goes on to suggest this new revamped Wallet will be unveiled officially at this year’s Google I/O event, which is due to take place in May. According to WSJ (and sources ‘familiar with the matter’), Google are trying hard to forge together a collection of manufacturers, carriers, banks and payment networks to bring about the new Google Wallet vision. In fact, it seems it is this rallying of businesses that is proving difficult for Google to roll out an effective all-in-one solution to rival Apple Pay. With so many different takes on android and those respective companies all needing their own priorities catered for, Google is facing somewhat of a challenge. To combat this, one of the incentives Google are reported to be offering to those future partners seems to be the promise of greater revenue returns.
Whether Samsung (who are the biggest android manufacturer) is one of these so-called partners is unclear at the moment. Although, WSJ again reports from someone close to the Samsung/Loop Pay deal, that big android manufacturers are hesitant in working with Google and Wallet as they do not see any obvious benefits for them. What this new envisioned Google Wallet will be like, is anyone’s guess at the moment. Not to mention, whether services like the rumored ‘pay with initials‘ type format, which Google reported are working on, is part of this new Wallet is also currently unclear. Although, it does seem at I/O more details will be released. What do you think Google needs to do to ensure Wallet’s success? Let us know.
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