Google Wallet, the digital wallet platform by Google, is set to launch in India, almost two years after its relaunch in the U.S. The accidental preview of the app on the Google Play store in India sparked speculation about its impending release. While Google did not confirm the launch, it did remove some details from the listing, including potential local partners, leading to further confusion.
Interestingly, Google clarified that it will continue to maintain Google Pay as a separate app in India, unlike in other markets where Wallet and Pay have been merged into a single app. A Google spokesperson stated that they are focused on enhancing convenience and security for digital payments through Google Pay. This decision could be attributed to the fact that India is Google’s largest market for payments globally, with Google Pay being the second most popular payment app after PhonePe.
The Indian version of Google Wallet is expected to differ from its U.S. counterpart. Google aims to provide local integrations on the Wallet app, leveraging its substantial Android user base in the country. The initial listing of the app featured screenshots of Indian brands such as Air India, State Bank of India, and PVR Inox, indicating potential integration with loyalty programs offered by these companies.
Although the existing Google Wallet app is not officially available in India, some Android users have reported using it with limited functionality. The app currently supports contactless payments with credit and debit cards but lacks support for Indian businesses and local loyalty programs.
Google’s journey in the financial services space has seen several changes and rebranding efforts. From Google Wallet to Android Pay and then to Google Pay, the company has constantly evolved its offerings. In 2022, it relaunched the Wallet app as a digital wallet platform for Android, Wear OS, and Fitbit OS. However, earlier this year, Google announced its plans to replace Google Pay with the Wallet app in the U.S.
In India, Google Pay operates using the Unified Payments Interface (UPI), a government-backed framework for facilitating payments. This integration sets it apart from its U.S. counterpart and potentially justifies Google’s decision to maintain a separate option for users who are already using Google Pay.
Google Pay’s popularity in India, where it is the second most used UPI app after PhonePe, gives Google a reason to support both Google Pay and the Wallet app. In March alone, the Google Pay app facilitated over 5 billion transactions worth over $83 billion, as reported by the National Payments Corporation of India.
As the launch of Google Wallet in India draws near, users can look forward to a localized experience tailored to the preferences and needs of Indian consumers. With potential integrations with local brands and loyalty programs, Google aims to further enhance the convenience and security of digital payments in the country.
