As part of their growing efforts to up security measures across their platforms, Google announced a new Digital Wallet app at their Google I/O developer conference. The app was previously tipped for release after 9to5Google spotted a wallet icon.
While they currently have their Google Pay app, the new digital wallet will be a comprehensive place to store more than just payment options, such as boarding passes, concert tickets, student IDs and even digital car keys.
“[Google} Pay will remain, but it will remain as a payment and financial services app,” says president of commerce and payments at Google, Bill Ready.
“Effectively, Google Wallet gives you a file system or a place to store all your digital credentials, that other applications can act upon. G-Pay for payments is one of them. But since there are many other use cases, that’s why we felt like we needed to really have a single home for all those digital credentials.”
Google Pay in 39 countries has allowed for the storage of certain documents such as vaccine passports, however, the new app will allow for this and much more, including in the U.S and Singapore where the app was exclusive to payment methods.
Google have specifically identified that the app provides much more than convenience. While with a typical physical wallet, money and payment options are free to use by anyone who gets their hand on it, while in a digital wallet, users will need to verify via biometric verification or a pin.
Google are late to the party when it comes to digital wallets, after Apple developed the aptly named ‘Apple Wallet’ in 2012.
