The Google Pay team is reportedly seeing an exodus of talent as the payment service struggles to grow
In November last year, Google released a revamped Google Pay app. The new app was completely rewritten in Flutter and featured an updated design. It also included several new features, like the ability to transfer money to friends and family members, search for local retailers who accept Google Pay, and more. Although the update made Google Pay a whole lot more useful, the app hasn’t seen the level of growth that some Googlers expected. As a result, several senior executives from the Google Pay team have left the company.
According to people familiar with the matter and LinkedIn data (via Insider), dozens of employees and executives from the Google Pay team have left in the last few months. The exodus started after the payments division was restructured following payments lead Caesar Sengupta’s departure in April. Since then, at least seven executives with leadership roles of director or vice president have left the team, including two that left last week.
Two former members of the Google Pay team told Insider that they left due to “frustration with the lack of progress on the payments app, as well as fears of a further reorganization following Sengupta’s departure.” A former employee further revealed that approximately half the people working on the business development team for Google pay have left the company in recent months.
A Google spokesperson disputed the claim that the attrition in Google’s payments team was higher than in other parts of the company. However, they acknowledged that there was an “uptick in hiring in the fintech industry and said it wasn’t unusual to see attrition after a company reorganization.”
A separate report from Pulse Network reveals that even though mobile wallet usage grew over 50% last year, Apple Pay dominated the space. Google Pay only accounted for 3% of all transactions, while Samsung Pay had a 5% share. With Google Pay failing to keep up with Apple and Samsung Pay, and executives leaving the team, the future seems bleak for Google’s payments project.