Google is working on physical and digital debit cards, which would be the foundation for its payment service, Google Pay. The cards can then be used to manage purchases and check balances, according to TechCrunch.
The cards will likely rival Apple’s own debit card that was also launched in 2020. Google’s versions will use the chip in the physical cards like normal debit cards. It will also co-brand, the cards with a variety of banks and credit unions, like Citigroup and Stanford Federal Credit Union. The ultimate goal is to make the card the foundation of it`s Google Pay mobile payment service.
However, Google didn’t confirm its plans for a physical credit card. The company confirmed that it was working with Citigroup and the Stanford Federal Credit Union. Google explained that more details will come out in the “coming months.”
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“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,” a Google spokeswoman said.
Google says it will allow customers to easily track their purchases using its payment service. This will involve leveraging tools like Google Maps and its vast access to retailers data to contact or navigate a previously visited store.
Users will have access to a list of recent transactions, with each bearing the merchant name, date and price.
Customers can also use the Google Pay app to lock their cards or their accounts in the event of theft or loss.
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