diff --git a/src/components/CurrentWalletBalance.js b/src/components/CurrentWalletBalance.js
new file mode 100644
index 000000000000..b58fe6108dd1
--- /dev/null
+++ b/src/components/CurrentWalletBalance.js
@@ -0,0 +1,58 @@
+import React from 'react';
+import {ActivityIndicator, Text} from 'react-native';
+import PropTypes from 'prop-types';
+import _ from 'underscore';
+import {withOnyx} from 'react-native-onyx';
+import styles from '../styles/styles';
+import withLocalize, {withLocalizePropTypes} from './withLocalize';
+import compose from '../libs/compose';
+import themeColors from '../styles/themes/default';
+import ONYXKEYS from '../ONYXKEYS';
+
+const propTypes = {
+    /** The user's wallet account */
+    userWallet: PropTypes.shape({
+        /** The user's current wallet balance */
+        availableBalance: PropTypes.number,
+    }),
+
+    ...withLocalizePropTypes,
+};
+
+const defaultProps = {
+    userWallet: {},
+};
+
+const CurrentWalletBalance = (props) => {
+    if (_.isEmpty(props.userWallet)) {
+        return (
+            <ActivityIndicator
+                color={themeColors.text}
+                size="large"
+                style={styles.pv5}
+            />
+        );
+    }
+
+    const formattedBalance = Number(props.userWallet.availableBalance).toFixed(2);
+
+    return (
+        <Text
+            style={[styles.textXXXLarge, styles.pv5, styles.alignSelfCenter]}
+        >
+            {`$${formattedBalance}`}
+        </Text>
+    );
+};
+
+CurrentWalletBalance.propTypes = propTypes;
+CurrentWalletBalance.defaultProps = defaultProps;
+CurrentWalletBalance.displayName = 'CurrentWalletBalance';
+export default compose(
+    withLocalize,
+    withOnyx({
+        userWallet: {
+            key: ONYXKEYS.USER_WALLET,
+        },
+    }),
+)(CurrentWalletBalance);
diff --git a/src/languages/en.js b/src/languages/en.js
index 2c13b708c404..702f67edff68 100755
--- a/src/languages/en.js
+++ b/src/languages/en.js
@@ -239,10 +239,14 @@ export default {
         addPayPalAccount: 'Add PayPal Account',
         growlMessageOnSave: 'Your PayPal username was successfully added',
     },
+    paymentsPage: {
+        paymentMethodsTitle: 'Payment Methods',
+    },
     paymentMethodList: {
         addPaymentMethod: 'Add Payment Method',
         accountLastFour: 'Account ending in',
         cardLastFour: 'Card ending in',
+        addFirstPaymentMethod: 'Add a payment method to send and receive payments directly in the app',
     },
     preferencesPage: {
         mostRecent: 'Most Recent',
diff --git a/src/languages/es.js b/src/languages/es.js
index de5b415a1fdf..fc9a4b2f1ee5 100644
--- a/src/languages/es.js
+++ b/src/languages/es.js
@@ -231,10 +231,14 @@ export default {
         yourPayPalUsername: 'Tu usuario de PayPal',
         addPayPalAccount: 'Agregar Cuenta de Paypal',
     },
+    paymentsPage: {
+        paymentMethodsTitle: 'Métodos de pago',
+    },
     paymentMethodList: {
         addPaymentMethod: 'Agrega método de pago',
         accountLastFour: 'Cuenta con terminación',
         cardLastFour: 'Tarjeta con terminacíon',
+        addFirstPaymentMethod: 'Añade un método de pago para enviar y recibir pagos directamente desde la aplicación',
     },
     preferencesPage: {
         mostRecent: 'Más Recientes',
diff --git a/src/libs/actions/PaymentMethods.js b/src/libs/actions/PaymentMethods.js
index ab21cf9e42c7..f6474b581cd9 100644
--- a/src/libs/actions/PaymentMethods.js
+++ b/src/libs/actions/PaymentMethods.js
@@ -6,15 +6,17 @@ import CONST from '../../CONST';
 
 /**
  * Calls the API to get the user's bankAccountList, cardList, wallet, and payPalMe
+ *
+ * @returns {Promise}
  */
 function getPaymentMethods() {
-    API.Get({
+    return API.Get({
         returnValueList: 'bankAccountList, cardList, userWallet, nameValuePairs',
         name: 'paypalMeAddress',
     })
         .then((response) => {
             Onyx.multiSet({
-                [ONYXKEYS.USER_WALLET]: lodashGet(response, 'userWallet', null),
+                [ONYXKEYS.USER_WALLET]: lodashGet(response, 'userWallet', {}),
                 [ONYXKEYS.BANK_ACCOUNT_LIST]: lodashGet(response, 'bankAccountList', []),
                 [ONYXKEYS.CARD_LIST]: lodashGet(response, 'cardList', []),
                 [ONYXKEYS.NVP_PAYPAL_ME_ADDRESS]:
diff --git a/src/pages/settings/Payments/PaymentMethodList.js b/src/pages/settings/Payments/PaymentMethodList.js
index 0994ca80a31e..c76ac9024f4e 100644
--- a/src/pages/settings/Payments/PaymentMethodList.js
+++ b/src/pages/settings/Payments/PaymentMethodList.js
@@ -1,8 +1,9 @@
 import _ from 'underscore';
 import React, {Component} from 'react';
 import PropTypes from 'prop-types';
-import {FlatList} from 'react-native';
+import {FlatList, Text} from 'react-native';
 import {withOnyx} from 'react-native-onyx';
+import styles from '../../../styles/styles';
 import MenuItem from '../../../components/MenuItem';
 import compose from '../../../libs/compose';
 import withLocalize, {withLocalizePropTypes} from '../../../components/withLocalize';
@@ -13,13 +14,17 @@ import {
     CreditCard,
     PayPal,
     Plus,
-    Wallet,
 } from '../../../components/Icon/Expensicons';
 
+const MENU_ITEM = 'menuItem';
+
 const propTypes = {
     /** What to do when a menu item is pressed */
     onPress: PropTypes.func.isRequired,
 
+    /** Are we loading payments from the server? */
+    isLoadingPayments: PropTypes.bool,
+
     /** User's paypal.me username if they have one */
     payPalMeUsername: PropTypes.string,
 
@@ -57,6 +62,7 @@ const defaultProps = {
     payPalMeUsername: '',
     bankAccountList: [],
     cardList: [],
+    isLoadingPayments: false,
 };
 
 class PaymentMethodList extends Component {
@@ -75,20 +81,26 @@ class PaymentMethodList extends Component {
         const combinedPaymentMethods = [];
 
         _.each(this.props.bankAccountList, (bankAccount) => {
-            combinedPaymentMethods.push({
-                title: bankAccount.addressName,
+            // Add all bank accounts besides the wallet
+            if (bankAccount.type !== CONST.BANK_ACCOUNT_TYPES.WALLET) {
+                combinedPaymentMethods.push({
+                    type: MENU_ITEM,
+                    title: bankAccount.addressName,
 
-                // eslint-disable-next-line
-                description: `${this.props.translate('paymentMethodList.accountLastFour')} ${bankAccount.accountNumber.slice(-4)}`,
-                icon: bankAccount.type === CONST.BANK_ACCOUNT_TYPES.WALLET ? Wallet : Bank,
-                onPress: e => this.props.onPress(e, bankAccount.bankAccountID),
-                key: `bankAccount-${bankAccount.bankAccountID}`,
-            });
+                    // eslint-disable-next-line
+                    description: `${this.props.translate('paymentMethodList.accountLastFour')} ${bankAccount.accountNumber.slice(-4)}`,
+                    icon: Bank,
+                    onPress: e => this.props.onPress(e, bankAccount.bankAccountID),
+                    key: `bankAccount-${bankAccount.bankAccountID}`,
+                });
+            }
         });
 
         _.each(this.props.cardList, (card) => {
+            // Add all cards besides the "cash" card
             if (card.cardName !== CONST.CARD_TYPES.DEFAULT_CASH) {
                 combinedPaymentMethods.push({
+                    type: MENU_ITEM,
                     title: card.cardName,
 
                     // eslint-disable-next-line
@@ -102,6 +114,7 @@ class PaymentMethodList extends Component {
 
         if (this.props.payPalMeUsername) {
             combinedPaymentMethods.push({
+                type: MENU_ITEM,
                 title: 'PayPal.me',
                 description: this.props.payPalMeUsername,
                 icon: PayPal,
@@ -110,15 +123,24 @@ class PaymentMethodList extends Component {
             });
         }
 
+        // If we have not added any payment methods, show a default empty state
+        if (_.isEmpty(combinedPaymentMethods)) {
+            combinedPaymentMethods.push({
+                text: this.props.translate('paymentMethodList.addFirstPaymentMethod'),
+            });
+        }
+
         // Don't show Add Payment Method button if user provided details for all possible payment methods.
         // Right now only available method is Paypal.me
         // When there is a new payment method, it needs to be added to following if condition.
         if (!this.props.payPalMeUsername) {
             combinedPaymentMethods.push({
+                type: MENU_ITEM,
                 title: this.props.translate('paymentMethodList.addPaymentMethod'),
                 icon: Plus,
                 onPress: e => this.props.onPress(e),
                 key: 'addPaymentMethodButton',
+                disabled: this.props.isLoadingPayments,
             });
         }
 
@@ -134,14 +156,25 @@ class PaymentMethodList extends Component {
      * @return {React.Component}
      */
     renderItem({item}) {
+        if (item.type === MENU_ITEM) {
+            return (
+                <MenuItem
+                    onPress={item.onPress}
+                    title={item.title}
+                    description={item.description}
+                    icon={item.icon}
+                    key={item.key}
+                    disabled={item.disabled}
+                />
+            );
+        }
+
         return (
-            <MenuItem
-                onPress={item.onPress}
-                title={item.title}
-                description={item.description}
-                icon={item.icon}
-                key={item.key}
-            />
+            <Text
+                style={[styles.popoverMenuItem]}
+            >
+                {item.text}
+            </Text>
         );
     }
 
@@ -168,9 +201,6 @@ export default compose(
         cardList: {
             key: ONYXKEYS.CARD_LIST,
         },
-        userWallet: {
-            key: ONYXKEYS.USER_WALLET,
-        },
         payPalMeUsername: {
             key: ONYXKEYS.NVP_PAYPAL_ME_ADDRESS,
         },
diff --git a/src/pages/settings/Payments/PaymentsPage.js b/src/pages/settings/Payments/PaymentsPage.js
index 7f2dc9deb8ad..3d266d1cfa48 100644
--- a/src/pages/settings/Payments/PaymentsPage.js
+++ b/src/pages/settings/Payments/PaymentsPage.js
@@ -12,11 +12,13 @@ import styles from '../../../styles/styles';
 import withLocalize, {withLocalizePropTypes} from '../../../components/withLocalize';
 import compose from '../../../libs/compose';
 import KeyboardAvoidingView from '../../../components/KeyboardAvoidingView/index';
+import Text from '../../../components/Text';
 import getPaymentMethods from '../../../libs/actions/PaymentMethods';
 import Popover from '../../../components/Popover';
 import {PayPal} from '../../../components/Icon/Expensicons';
 import MenuItem from '../../../components/MenuItem';
 import getClickedElementLocation from '../../../libs/getClickedElementLocation';
+import CurrentWalletBalance from '../../../components/CurrentWalletBalance';
 
 const PAYPAL = 'payPalMe';
 
@@ -39,6 +41,7 @@ class PaymentsPage extends React.Component {
             shouldShowAddPaymentMenu: false,
             anchorPositionTop: 0,
             anchorPositionLeft: 0,
+            isLoadingPaymentMethods: true,
         };
 
         this.paymentMethodPressed = this.paymentMethodPressed.bind(this);
@@ -47,7 +50,9 @@ class PaymentsPage extends React.Component {
     }
 
     componentDidMount() {
-        getPaymentMethods();
+        getPaymentMethods().then(() => {
+            this.setState({isLoadingPaymentMethods: false});
+        });
     }
 
     /**
@@ -103,9 +108,17 @@ class PaymentsPage extends React.Component {
                         onBackButtonPress={() => Navigation.navigate(ROUTES.SETTINGS)}
                         onCloseButtonPress={() => Navigation.dismissModal(true)}
                     />
-                    <View style={[styles.flex1]}>
+                    <View>
+                        <CurrentWalletBalance />
+                        <Text
+                            style={[styles.ph5, styles.textStrong]}
+                        >
+                            {this.props.translate('paymentsPage.paymentMethodsTitle')}
+                        </Text>
                         <PaymentMethodList
                             onPress={this.paymentMethodPressed}
+                            style={[styles.flex4]}
+                            isLoadingPayments={this.state.isLoadingPaymentMethods}
                         />
                     </View>
                     <Popover
diff --git a/src/styles/styles.js b/src/styles/styles.js
index 2671bb581c56..f80f656126cb 100644
--- a/src/styles/styles.js
+++ b/src/styles/styles.js
@@ -100,6 +100,13 @@ const styles = {
         fontSize: variables.fontSizeLarge,
     },
 
+    textXXXLarge: {
+        color: themeColors.heading,
+        fontFamily: fontFamily.GTA_BOLD,
+        fontSize: variables.fontSizeXXXLarge,
+        fontWeight: fontWeightBold,
+    },
+
     textStrong: {
         fontFamily: fontFamily.GTA_BOLD,
         fontWeight: fontWeightBold,
diff --git a/src/styles/utilities/spacing.js b/src/styles/utilities/spacing.js
index 15909ff71fe0..2684c4974601 100644
--- a/src/styles/utilities/spacing.js
+++ b/src/styles/utilities/spacing.js
@@ -69,6 +69,10 @@ export default {
         marginRight: 16,
     },
 
+    mr5: {
+        marginRight: 20,
+    },
+
     ml1: {
         marginLeft: 4,
     },