Tech giant Google may soon expand the payment options for its Google Pay cards to include Bitcoin.
Google Revamping its Google Pay Feature
Google has been on its game to stay on top of the competition as far as online service is concerned. The firm is moving from a payment service to a digital wallet. Search engine Google stopped its simplified banking product operating in partnership with banks like Citigroup. The President of Google, Bill Ready, stated that the company had no intention of being a bank.
Instead, it focused on being the connective tissue for the entire consumer finance industry. Ready added that Google was directing a lot of attention to crypto, considering that the industry is receiving high demand from its users. Therefore, the company is directing efforts to add more features to the shopping service.
Tech giant Google recently hired former PayPal executive Arnold Goldberg as its new Payment Division Chief. Goldberg is to spearhead a revamp of the Google Pay feature. Google has admitted to failing in its goals for the Google Pay feature. The failure is dramatically attributed to the competitor services like Apple Pay.
Goldberg is set to lead a project called Next Billion Users. According to Ready, adding Bitcoin will make the payment feature more comprehensive. Google Pay will also allow users to buy digital tickers airline passes and add a vaccine passport for COVID-19. Ready said they are looking to let people leverage the entire array of financial services out there using Google Pay.
Search Engine Google Partners with Coinbase and BitPay
The search engine has entered into a partnership with crypto exchanges Coinbase, Gemini, and BitPay to let users keep cryptocurrency in their digital cards.
The partnership will only allow users to hold Bitcoin in their Google Pay cards. However, transactions will remain in fiat currency. Thus, while Bitcoin would not be a means of exchange, users will still spend their Bitcoin holding.
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