According to a new report, Google will unveil a revamped version of Wallet and show it off at the I/O event in May this year.
Google Wallet hasn’t received any major updates recently (barring the visual changes introduced with Android 5.0 Lollipop), so the upgrade will have come at the right time. The report which originates from the Wall Street Journal says that this new version of Wallet will have an “unruly coalition of device makers, wireless carriers, banks and payment networks.”
With Apple Pay beginning to gain traction, it’s only fair that Google wants to up its game in what has been a very fragmented market. It is said that unlike Apple’s payment system, Google will be more liberal with fees as it will be ready to offer a cut to the carriers as well. We’re guessing this will be done on a per transaction basis. This would give the carriers more incentive to push Google Wallet.
It is also believed that Google is in talks with giants like MasterCard and Visa, which would give it a massive advantage over the competition. We’ll keep an eye out for more word on the second coming of Google Wallet.
What do you think Google needs to do for Wallet to strike a chord with the public? Sound off below.