Google is updating the Google Wallet service at the I/O developer conference next year. However, Google will not be launching a physical card as rumored. Details about a physical Google Wallet card was leaked in a recent memo that included Osama Bedier’s departure from the company. The Google Wallet card supposedly has a black face with a rainbow-colored “W” of the Google Wallet logo. The card also has a standard magnetic stripe and the usual amount of numbers on a credit card embossed on it, according to AllThingsD.
A physical Google Wallet card is part of the company’s goal to learn more about consumer purchases. Google is able to detect patterns from purchases made through Google Play, Google Checkout, and Google Shopping. A physical Google Wallet card would provide them with other valuable data.
Google Wallet’s rewards, offers, and loyalty points services will be updated. A larger group of merchants are going to support the service as well.
Sources with AllThingsD also said that Google CEO Larry Page ended the card launch plan since he was displeased with glitches from a demo last week. Page has been skeptical of physical card solutions because it would not press forward innovation as other payment startups have done like Square.
Google Wallet is being developed within the company’s ads and commerce division that is run by Susan Wojcicki and Sridhar Ramaswamy. Ramaswamy is in direct charge of Google Wallet in the ads and commerce division.