We already know how it will look.
Google previously abandoned its separate Wallet service and focused on the development of Google Pay, but now it seems to be planning to revive it. This was told by Mishal Rehman, an insider specializing in Android leaks. He also showed the first screenshots, which include the application icon – it corresponds to the one recently found in the firmware files.
The corresponding section will appear inside the Google app Pay, while Wallet will have its own interface and functions. This section will store loyalty cards, tickets, and passes.
Google probably just wants to separate everything related to contactless payment and other features , which are becoming more and more in the service. If card storage is moved to a separate interface, Google Pay will be limited to storing cards for online and NFC payments and the ability to transfer money to other users (this feature is not available in all regions).
So far, the Google Pay redesign is in progress at the stage of internal testing, and it is not clear when the updated Wallet will be available to users.