It died the horrible, painful death it deserved.
First, it kept getting delayed over and over again.
Second, they had a data breach happen to them, before the service was even ready. This kind of eroded consumer confidence in it.
Third, you couldn't use credit cards with it. You had to link it directly to your bank account, which most people are understandably hesitant to do.
The whole thing was a cluster**** and was one of those delightful cases when something that absolutely deserved to fail, failed. It's just too bad that its writhing corpse ended up slowing contactless/Apple Pay adoption.