First, you need to understand that PaymentRequest is a constructor for Payment Request API which is built-in modern browsers. Payment Request APIs let customers quickly fill up payment forms including card details. More can be found here: https://developer.mozilla.org/en-US/docs/Web/API/Payment_Request_API
In your case, it can either be your browser version not supporting Payment Request API or your site being served without SSL (Often the case with localhost).
If you look into Google Pay integration within braintree module (src/vendor/paypal/module-braintree-core/view/frontend/web/js/googlepay/button.js) on line 109 onwards:
deviceSupported: function() {
return !!(window.PaymentRequest);
}
It looks for device support for Payment Request API. If that fails it throws the error you shared in your question. I told the possible reasons above.