Google Wallet was the company's first swing at taking on mobile payments in stores, online and in apps, but since the release of Android Pay has shifted directions quite dramatically. The new Android Pay system is taking over in-store, online and in-app payments, and Google Wallet is being scaled back to handle person-to-person money transfers, and the management of the physical Google Wallet Card.
The new Google Wallet app makes it amazingly easy to send money to or request money from anyone with just their email address. When sending you can pull money directly from a connected bank account with no fee, or load it up quickly with a debit card for a 2.9 percent fee. The same applies for those sending you money when you request it. When you receive money it lands in your Wallet Balance, where it can be sent to another person, cashed out to your bank (again with no fee), or used with your Wallet Card.
Google's physical Wallet Card is the same as it has been for a couple of years now, and acts like a fully prepaid debit card. You can make purchases in stores and online anywhere that MasterCard Debit is accepted, as well as withdraw from ATMs, and the card only has access to money that's in your Wallet Balance. Just as is the case when funding money transfers, you can add money to your Wallet Balance fee-free from your bank account, and even set up recurring deposits.
Portions of this page are modifications based on work created and shared by the Android Open Source Project
and used according to terms described in the Creative Commons 2.5 Attribution License. AndroidCentral is an independent site
that is not affiliated with or endorsed by Google.