In terms of brands and services, Google seems to be restless. This time around, Google Pay (also known as GPay) and Google Wallet have swapped places again, according to an email sent to Google Pay users on Thursday.
In 2011, the company made its first foray into mobile payments with the launch of its Google Wallet app for Android. At some point, it moved tap-to-pay capabilities into a new app called Android Pay, leaving Google Wallet to handle only peer-to-peer payments. In 2018, the two services were reunited into an all-in-one app called Google Pay. Things are getting messy again in 2022 with the relaunch of Google Wallet and Google Pay now functioning as a quasi-accounting app and loyalty program tracker in the US. Still confused? So are we.
Come June, though, Google Pay will officially be gone. Here’s what you need to know about Google Pay’s imminent disappearance.
What is Google Wallet, how does it work, and which banks support it?
Google Wallet is the company’s convenient payment system for Android users, formerly known as Android Pay.
What is Google Pay?
As of 2022, the Google Pay app (or GPay as you find it on your phone) only exists in the United States and Singapore. In the more than 40 other regions where Google participates in mobile payments, these users can only use the Google Wallet app.
GPay allows users to link their various bank and credit accounts to help them track their spending. Additionally, GPay serves as a gateway for Google to offer cash back rewards at various national chains as well as local stores and restaurants. Cashback rewards accumulate as a dedicated balance within GPay. Users can also send or request money transfers to other GPay users.
What happened to Google Pay?
The company notified U.S. Google Pay users via email at the end of February that the app would be shut down on June 4, 2024. What this means for GPay’s various features:
- As of February 22, cashback deals will not be activated. Cashback transactions that have not yet been processed will still be processed.
- As of June 4, peer-to-peer payments will no longer be available.
- If you have a Google Pay balance, you can use the GPay app to transfer the money to a bank account before June 4.
- After June 4, you can still use the Google Pay website to transfer your GPay balance or view your transactions. You can also choose to unlink your bank account.
- If you send money to India and Singapore through the Wise integration on the GPay app, you will not be able to see transaction information from June 4. Your Wise account information and history remain intact on Wise – just use the Wise website or app.
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What do I need to do before Google Pay shuts down?
Transfer your GPay balance
If you have a GPay balance, you can transfer it to your linked bank account. This is what you do:
- Open GPay appthen select the tab on the bottom right – this will be your Insights tab.
- Near the bottom of the screen, Tap your Google Pay balance.
- choose Transfer out.
- Enter the amount you want to transfer.tap Next.
- Select your linked bank account to execute the transaction.tap transfer out.
Transfers to a bank account take longer than transfers to a debit card, but you will need to pay the speeider transfer fee because debit transfers incur a 1.5% fee, with a minimum of $0.31.
If your GPay balance is less than $1, you need to add at least $10 before transferring the balance.
- Open Insights tab in GPay Then click on your Google Pay balance
- choose +add money.
- Enter the amount you want to transfer.tap Next.
- Select your linked bank account to execute the transaction.tap Add to.
Delete bank and credit accounts
If you want to remove your payment account from GPay, please follow these steps:
- In the GPay app, click on your Google account avatar in the upper right corner.
- choose Link accounts and payment methods.
- Select the account you want to delete.
- Click the three-dot icon in the upper right corner and press Delete account.When asked for confirmation, select yes delete.
Again, you don’t have to unlink your account from Google Pay, but it might be a good idea to clean up any unnecessary data from the platform you won’t be using.
What about Google Wallet?
Google Wallet is the company’s primary application for click-to-pay transactions. You can also store passes, membership cards, digital ID cards, and more. Unfortunately, you won’t be able to do most of the things GPay used to do, so you may have to migrate to another app to replace any lost functionality.