Google has added another app to its product graveyard. After 10 years, the company is retiring Google Pay in the US, forcing users to switch to the platform’s alternative mobile payment service, Google Wallet, by June 4th this year.
The app’s discontinuation is part of a company strategy to simplify its digital payment options, by moving customers onto a more comprehensive solution — with Google Wallet storing digital items alongside payment cards and already boasting three times the user numbers of Google Pay.
If you’re still relying on Google Pay in the US, there are a number of steps you need to take before the cut-off date though. So read on to learn more about Google Pay’s sunsetting, and how to keep your funds secure in 2024.
Google Pay is Sunsetting in the US
After a decade, Google has finally decided to shelter its standalone Pay app in the US. The app will become defunct on June 4, 2024, and Google is encouraging its 25 million users to switch to Google Wallet in its place.
The payment solution will remain on the market until this deadline, and users will be able to access its full services to make contactless and online payments, earn rewards, and analyze their spending data.
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According to Google Product Manager Joris van Mens, Google Wallet continues to be the primary place for people to securely store payment cards used for tap and pay in stores, so switching Google Pay users to the multi-pronged alternative seems to be a no-brainer.
To simplify the app experience, the U.S. version of the standalone Google Pay app will no longer be available for use starting June 4, 2024,” – Google product manager Joris van Mens
These changes reflect Google’s decision to make Google Wallet its primary Android payment app. While both of Google’s payment apps support online and tap payments, there are a number of differences between the two that users should be mindful of before making the switch.
What’s The Difference Between Google Pay vs Google Wallet?
Google Wallet was originally launched in 2011 as Google’s flagship Android payment app. The versatile payment wallet stores online payment methods, alongside a range of digital items like driver’s licenses, keys, and state IDs. In contrast, Google Pay doesn’t offer this function, and is used primarily to make tap payments.
Unlike Google Pay, however, which facilitates peer-to-peer payments, Google Wallet doesn’t support sending or receiving money. Google Wallet doesn’t provide cashback on purchases either, which was a huge perk that drew Google Pay users to the app.
While Google claims to be committed to improving its Wallet platform, it’s uncertain whether the company will integrate Google Pay features into the app once it goes into retirement. One thing that is certain though, is that users have been asked to transfer their balance out of the app before the summer deadline. Find out how this can be done next.
Here’s What Google Pay Users Need To Do Next
If you’re using Google Pay in the US, you need to transfer your money out of the app before the June 4th cut-off date. Fortunately, this is quite easy to do, as long as you follow the simple steps below:
- Open the Google Pay app
- Tap your profile icon
- Tap Google Pay balance
- Tap Transfer
- Enter your designated amount then tap next
- Select your payment method, or add one if you don’t have one saved
- Tap transfer out
After following this guidance, your Google Pay funds will be on the way to your selected bank account. However, users should be aware that transferring money out of their Google Pay balance via a bank account can take up to five business days and that the platform charges a 1.5% fee on transitions involving debit cards.
If, for whatever reason, you aren’t able to make these changes via the app, you’ll be able to transfer the funds online after the deadline. To avoid being locked out of your account in the future, we also recommend using a password manager to protect your payment information.
Not only will this help to keep your e-wallet safe from hackers, but it will also give you peace of mind by making it impossible to forget passwords in the future.
