According to Bloomberg, Google is currently exploring a solution to allow its users to store bitcoin on their digital cards. And the biggest reason for this decision as per the report is the failed Google Pay feature.
In order to ensure that the entire project is not a big-scale failure, Google joins forces with BitPay and Coinbase Global, with the purpose of exploring, and eventually creating an e-wallet-type solution specifically for bitcoin. All in order to attract more users for the Google Pay feature.
For that matter, Google hired Arnold Goldberg, a former executive at PayPal, as the new Payment Division Chief. Additionally, Google recently hired Bill Ready to serve as the President of Commerce.
In fact, according to Bloomberg, Bill Ready is the individual responsible for Arnold Goldberg joining Google’s team. And it looks like Goldberg will also be a central figure of Google’s new upcoming project, Next Billion Users, where he will oversee as Vice President and General Manager.
Moreover, Bill Ready states that this new feature is in order to cover ‘the entire array of financial services out there’. Additionally, Ready specifies that the company doesn’t intend to operate as a bank, but simply connect individuals and businesses alike.
Consequently, all it takes is one look at the numbers to realize why Google decides to step up its game. According to the official report, a mere 4% of the total non-cash transactions in the USA are conducted with Google Pay.
That is why Google aims to create a bitcoin wallet that not only stores crypto, but for other functions as well. Some of these will include the ability to purchase everything online from traveling tickets, up to uploading their COVID-19 passport
At the moment, there are around 150 million users that use Google Pay on a monthly basis. And thanks to these innovations and new crypto features, the company hopes to drastically increase those numbers, and eventually ‘catch’ their biggest competitor, Apple.
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