If you look back at my posts or are a loyal follower, you know that Google Wallet has been a baby of mine and I've loved it since the beginning. I was the first to predict that they would come out with their own card to make transactions, and they did. And it was wonderful. I then made the prediction that they would be allowing mobile check deposits and way down the road, potentially credit cards.
I was wrong.
The world did not see the power of Google Wallet as I clearly did. According to trustworthy sources, Google Wallet has been losing money since 2013 due to high transaction fees from credit card companies (American Express. Yea, I'm looking at you). Due to this, the Wallet Card has been cut by the new Google CFO after they performed an internal audit.
So what's next for Google Wallet? What will happen to it now? Well, here at The Dusty Wahl, we believe that it is just the beginning of the story. After June 30th, they will come out with a new update for their app which will hopefully be prettier, and more user-friendly. They will focus on the peer to peer transactions and go from there. With competitors like Apple Pay and Android Pay (aren't they competing with themselves there?) they have to start going after their strengths, which again, from trusted sources, is apparently their peer to peer transactions. I know I personally have been squeezed out of a few jams just because of this function and we can't wait to see what they will come up with next.
And they will come up with something next. Because it's Google.
Wise words from The Dusty Wahl
Don't give up yet, Google Wallet is far from dead.
