Google drops plans to launch credit card

Google has cancelled its decision to launch a physical credit card as part of the Wallet project. The company will upgrade its existing Wallet products but will not be launching the credit card as proposed earlier. 

The physical credit card as part of the Wallet project was aimed at offering credit or debit card services. Instead of carrying multiple credit cards, the user could simply sync her other credit cards through the Wallet app and use a single card to do any transaction. 

In case of loss, one would have to only cancel the Google wallet card and not the other cards from the wallet. 

According to a report by Foxnews the card was to be launched as part of Google's larger strategic goal to know the consuming potential of the users as a result of its huge online advertising business. 

The NFC technology, which requires particular type of mobile phones and special readers to make transactions, has been eased out through Google's cloud wallet with which the users can sync their cards and make payments.