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When I first read the name my first reaction was "NOOOO!!!". For one Google was first to the mobile payment scene, and by changing the name to Android Pay they sound like they are trying to play catch up versus leading the pack.
With that said, the reality is Google Wallet will still be around but will be used to purchase items on the web or for person to person pay. Android Pay will be used for tap-to-pay purchases at the registers. Like both Samsung and Apple's Pay software, Android Pay will work with fingerprint scanners, which will be one of the features in Android M.
Despite the name change I like the additions Google is making to their pay software. Look for the Google Pay app to hit the play store soon.
Source: Google introduces Android Pay a replacement for its wallet app on mobile The Verge
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