All good things end; even products from successful big tech companies like Google does. The tech giant has just announced this Thursday, March 31 that it would stop supporting the Google Wallet Card starting June 30.
Products and services come and go. Some are successfully staying and progressing further, while some are stopped to avoid further losses. According to the search engine’s email message sent to Wallet Card owners, the company is stopping support for the said service as it wants to “to focus on making it easier than ever to send and receive money with the Google Wallet app,” reports The Verge.
Time adds that another reason is likely about cost cutting measures as the tech giant, based on a 2013 study, loses money on credit card fees from each transaction. The prepaid debit card was first launched almost three years ago in November.
It lets consumers pay for things in person and online using their Wallet balance at any retailer that accepted MasterCard. It also allows users to withdraw money from ATMs. The tech giant notes that the Google Wallet Card will work until June 30 but consumers will not be able to load money into it after May 1.
Consumers need not worry much as when the card retires, any transactions after will not be completed. This includes recurring transactions. However, pending transactions will still go through. Droid Life adds that should a user send money to another user after that date; they will still be able to see the money.
Users can also relax because the search engine has partnered with the American Express Serve and Simple, for an easier transition and offers a bonus to users who switch to them. Google Wallet Card owners who decides to switch to Serve will be able to get $20 gift after having a direct deposit of $500 USD or more, while Simple gives those who made the switch to them $20 USD upon signing up.
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