Google Wallet for iOS Changes into a Peer to Peer Payment Service

Google has decided to change the existing Wallet app into a peer-to-peer payments service - Image Source

Google has decided to change the existing Wallet app into a peer-to-peer payments service – Image Source

Earlier this month, Google announced the launch of Android Pay to compete against Apple Pay and Samsung Pay which will be launching on September 28th. In doing so, the company has decided to change the existing Wallet app into a peer-to-peer payments service. The changes went live on Android along with the new pay service on September 10, and now it’s been launched for iOS too.

The new Google Wallet for iOS app has been completely rebuilt with peer-to-peer focus, which means users can no longer store loyalty cards or gift cards on the app. Google will be competing with Paypal’s new Pay.me service, Square Cash, Facebook, and even Snapchat which are in the peer-to-peer payment space already. However, Google has a competitive edge in the space since it allows to send money to anyone in the U.S. using only an email address; the person doesn’t even need to use the Wallet service himself/herself.

You can order a Google Wallet Card from the app on your phone. Further, one of the benefits will be that it’ll allow you to spend the debit in your account physically in stores, or withdraw it from an ATM to get cash. The other alternative is to ‘cash out’ the amount in the account to a debit card or bank account that is linked to your account.

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