Google has re-launched its Google Wallet as a new app in preperation for the arrival of Android Pay, with a new UI and enhanced security among the apps new features.
The new app will facilitate the sending of money to anyone in the US with an email address directly from the user’s debit card, bank account, or Wallet Balance.
Payees will be able to get access to the money instantly with the Google Wallet Card, or cash out using traditional methods.
The old app was designed to be an easy way to load a digital account with cash and transfer money among friends, but the new app is designed to be more advanced and is close to the services provided by companies like Square Cash and Venmo.
As for security, Google claims that all of the financial information in Google Wallet is encrypted and stored on its secure servers. However, in case of phone theft, users can immediately revoke access to the device.
If the user misplaces the Wallet Card then the Google Wallet app can be used to block it.
Presently, the old version of Google Wallet still exists in the Google Play Store and the new one is named Google Wallet (New).
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The older version of the app is expected to be updated to Android Pay, through which users will be able to pay with Android phone in stores and within apps.
Google unveiled its Android Pay service at the Google developer’s conference in San Francisco earlier this year.
