Bloomberg writes that the tech giant wants to entice users by making the most out of partnerships established with the likes of Coinbase and BitPay.
Cryptocurrencies are set to become a bigger part of Google Pay, according to reports.
Bloomberg writes that the tech giant wants to entice users by making the most out of partnerships established with the likes of Coinbase and BitPay.
As part of these collaborations, Google Pay users can store their crypto assets on digital cards, which can then be converted into fiat whenever a purchase is made.
Arnold Goldberg, a former PayPal executive, is going to be running Google's payments division — and all of this comes as the search engine behemoth abandons plans to move into banking.
Google's president of commerce Bill Ready told the news outlet that the company has "no intention of being a bank" — and instead, it wants to integrate payment features into its search and shopping results.
Looking ahead, Google plans to offer a "comprehensive digital wallet" that can accommodate everything from digital tickets and airline passes to vaccine passports. Ready added:
"Crypto is something we pay a lot of attention to. As user demand and merchant demand evolves, we'll evolve with it."
In separate developments, Google has launched a unit focused on "blockchain and other next-gen distributed computing and data storage technologies."
