Google is sending out e-mails to everyone who jumped on the Google Wallet bandwagon early to let them know that they are discontinuing the prepaid card feature within Google Wallet on October 17th.
There is no reason to panic for users who still have a balance on your card, you can either use that balance on purchases or request a refund from Google itself. As of September 17th users will no longer be able to add funds to their prepaid cards, and you will not be able to add a prepaid card to any new devices. This all coincides with the latest update for Google Wallet that allows users to add any type of card instead of just the introductory cards. This has limited the need for the prepaid card service.
Google has also updated the terms and conditions for the prepaid card, which previously charged $2.00 monthly maintenance fee after 180 days without any transactions. Now users will be charged $2.00 every 30 days without any transactions. This fee is automatically deducted from the Google prepaid card balance. The full terms and conditions can be viewed here.