Google has recently given a facelift to the icons of most of its Workspace apps, which include Gmail, Google Drive, Meet, and more. They all now adhere to the company’s core color scheme (red, green, yellow, and blue) and no longer have a unique identity. They look mostly the same and well, the company seems to be throwing another app into the mix.
The new Google Pay logo is not available for anyone in the Beebom team. There is no pending update and the Play Store listing is yet to be updated as well. So, keep an eye out as this might be a phased server-side rollout. Google is yet to make an official statement and switch to the new logo on its social profiles as well.