Google Wallet to pull plug on digital purchases

Google folds merchant portal for 'Wallet'

Google has announced that its tap and pay service Google Wallet will no longer process third-party digital purchases.

The company sites a maturing industry as the reason for the cancellation. The landscape of mobile payments has become competitive and variable since the API launched in 2012. No replacement will be offered.

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According to Engadget, a site that reviews gadgets, technology and consumer electronics, Google will officially terminate the API on March 2, 2015.

There is no indication that the company plans on scaling down the payment service further. Google Wallet will remain the payment system for the Play Store and users will still be able to make in-store purchases. In-app payments will also continue to be available for both iOS and Android devices.