Would you pay using a Google Card?
Aside from Apple and Huawei, Google is reportedly working on its credit card service, according to a report by TechCrunch. Expected to compliment Google Pay, Google Card is the tech giant’s way of expanding into financial services. Leaked screenshots reveal Google Card’s features, which include tracking of transactions using Google Maps, a physical card that has a chip supported by Visa, contactless payments, and a virtual card option for online payments.
Google replied to TechCrunch findings of Google Card with a statement saying:
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.
With this development, Google is serious in entering the Fintech industry, in hopes of coming up with a successful product to compete against traditional banking and credit card services. Previously, Google had Google Wallet for its payment service, which was later on replaced by Google Pay.