Google has recently introduced its digital wallet application, Google Wallet, in the Indian market. This move aims to provide users with a secure and convenient way to store and access various digital credentials, such as loyalty cards, transit passes, IDs, and more. However, the company has been clear that the launch of Google Wallet will not affect the existing and popular Google Pay app, which is primarily used for financial transactions.
Although credit and debit card storage is supported by Google Wallet globally, its Indian avatar won’t be extending this functionality. This move likely stems from the widespread adoption and resounding success of the Unified Payments Interface (UPI) system in India, which has truly revolutionized digital payments in the country.
What sets Google Wallet apart from Google Pay?
According to Google’s official FAQ, Google Wallet is designed to be a “secure and private digital wallet” that provides users with quick access to their payment cards, passes, tickets, keys, or IDs that they have shared within the app. In contrast, Google Pay is focused on managing money and finances, allowing users to send and receive payments, earn rewards, find merchant offers, and gain insights into their spending habits.
Ram Papatla, GM & India Engineering Lead for Android at Google, emphasized during the launch that “Google Pay is not going anywhere. It will remain our primary payments app. Google Wallet is specifically tailored for non-payment use cases.”
How to use Google Wallet in India?
Google Wallet will be pre-installed on all Pixel devices for consumers in India. Users who are not Pixel owners may obtain the digital wallet from the Play Store and utilise it to safely store their credit card information. It’s crucial to remember that the Google Wallet app is now unavailable for wearable technology.
Google announced agreements with a number of well-known companies during the launch event, including PVR INOX, Flipkart, Air India, Shoppers Stop, and Ixigo. The goal of these partnerships is to make Google Wallet more widely used and useful across a range of industries, including retail, e-commerce, entertainment, and travel.
The history of the Google Wallet app is fascinating. After being introduced in 2011, it was eventually combined with Android Pay to become Google Pay in 2018. But for UPI payments in India, Google also released a different app called Google Tez, which was eventually renamed as Google Pay. As a result, Google developed two separate Google Pay apps: one for India and one for the rest of the globe. This brings us to the present day, when Google rebranded its global Google Pay app as Google Wallet in 2022.
Google Wallet seeks to enhance the financial services provided by Google Pay by giving consumers an easy-to-use and safe method of managing their digital credentials as the digital world develops. It would be fascinating to observe how Indian consumers react to this new service and how it changes the nation’s digital wallet industry.
