Google Wallet Credit Card a No-Show for Google I/O was fast. It’s no big secret that Google was planning to launch a Google Wallet Credit Card, and a lot of folks expected to see it released at Google I/O next week. Today we’ve learned that Larry Page has abruptly cancelled plans to launch to card although Google Wallet will be receiving a bit of an update. According to AllThingsD, Google recently announced they would be pulling the card for now through a memo which also had news of Osama Bedier, the head of Google Wallet, leaving the company. Google assumed people would be more likely to spend with a card from a brand they are comfortable with, and they also wanted to get at that all-important data that comes from credit card purchases. Apparently, this isn’t going to happen any time soon as Larry Page wasn’t happy with a glitchy demo last week, and he feels like it’s not as innovative as it should be so the Google Wallet Credit Card is getting pulled with less than a week to go until Google I/O. Google may be scrapping plans for a Google Wallet Credit Card for now, but Google Wallet is still going to see some updates during Google I/O. This includes more offers, loyalty points, and new rewards from more merchants. It will be interesting to see where Google goes from here with Google Wallet, now that the plastic is on hold for now. I don’t think a lot of people would be anxious to have another line of credit in their lives, and they certainly aren’t innovative. Either way, with this development and other rumors flying around, Google I/O is shaping up to be a bit less exciting this year than expected. Source – AllThingsD

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