In a development that made waves across Pakistan’s fintech landscape earlier this month, Google finally rolled out its Wallet service there. The tech giant’s digital payment solution, which allows users to store payment cards virtually on their Android devices, had the LinkedIn thought leaders all excited. The feed was flooded with posts and pictures of how this singular event would change the course of Pakistan’s digitisation journey like nothing we have ever seen before.

But beyond the self-promoting intellectual regurgitation of LinkedIn, what exactly does this launch mean for the country’s payments ecosystem? Is this really going to be as revolutionary as the aspiring influencers tell us? Or just another minor product launch? The answer, as is often the case with technology adoption in emerging markets, lies somewhere in between.

For starters, Google’s entry is indeed a welcome development. After all, Pakistan was probably the biggest country that didn’t have this service. Before we get into that, let’s first understand what the product is and isn’t.

Essentially, the wallet tokenises and digitalises your existing debit and credit cards, allowing users to simply tap their phones at NFC [Near field communication] -enabled point-of-sale terminals to pay for stuff. The convenience factor is undeniable, for it eliminates the need to carry bulky wallets, but for now, it is only for Android users.

Promising as it may be, its current universe is rather limited since it........

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