Today Apple announced that its Passbook service has a new name: Wallet.

The rebrand makes sense, as the Passbook app has gradually transformed into a payments-centric service. But now Apple’s branding mirrors its biggest competitor: Google Wallet.

Apple announced the news during its annual Worldwide Developers Conference (WWDC 2015) in San Francisco. During the event, Apple also shared that it’s launching Apple Pay in the U.K. next month as the service nears one million locations.

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.