Visa Checkout, the financial services company’s Paypal competitor, is shutting down in 2020
After financial services company Visa announced the shutdown of its Paypal competitor, Visa Checkout, in 2020, Google said it would remove support from the service.
In 2017, back when Google Pay was still called Android Pay, Google integrated Visa Checkout into its payment service. This meant people could use data from Google’s payment service wherever Visa Checkout was supported.
While Visa Checkout is on its way out, Google Pay will continue to support Visa credit and debit cards.
That said, Visa is planning to replace Checkout with a solution based on the EMV Secure Remote Commerce (SRC) specification. The new payment solution promises to be more robust and secure than Checkout. You can read more about Visa and EMV SRC here.
Should Visa’s new platform gain enough traction, Google may integrate it with Pay in the future.
It’s worth noting that Mastercard offers a similar service called MasterPass. Google previously announced plans to integrate with the service, but that never happened.