As NFC technology and mobile purchasing move into the mainstream, Google's separate online payment systems, Checkout and Wallet, have become redundant. One of them has got to go.
That's why Google is merging its Checkout and Wallet services into a unified payment system for both online and mobile purchases under the Google Wallet banner. Existing Checkout users will be able to migrate their account information the next time the log in or make an online purchase. In addition to unifying its payment system, Google is also installing Wallet functionality across its network—including the Android Market, YouTube, and Google+ Games.