All the theories speculating Google working on the Apple Cash Card seems to be true. The leaked pics of Google physical and virtual cards make it apparent that the Apple Cash Card is going to face stiff competition in the near future.
The Google card will be associated with your google account and will allow you to make make payment using the card, phone or through online transaction.
Google currently connects with traditional payment cards. This move is likely to make Google a fintech giant given the presence of Google in the everyday life of people all around the world.
According to a statement issued to Techcrunch, Google is currently in talks with Banking institutions in the United States to offer them smart checking accounts.
We’re exploring how we can partner with banks and credit unions in the US to offer smart checking accounts through Google Pay, helping their customers benefit from useful insights and budgeting tools, while keeping their money in an FDIC or NCUA-insured account. Our lead partners today are Citi and Stanford Federal Credit Union, and we look forward to sharing more details in the coming months.
statement issued to Techcrunch
It is believed that the Google Card will come with the name of the partner bank on the bottom of the card and the name of the customer at the top of the card. Google aims to make any financial transaction a seamless experience at the same time ensuring the safety of customer’s data. Just like using any other Google product. Along with the physical card, a user can also make payments via Bluetooth enabled virtual payment card.
However, the product is yet to be launched, and more details will be shared after the launch.
