When Apple decided to introduce its credit card for users of its products, there was much debate. There were different opinions and criticisms, although Huawei has been encouraged to present its card, but it is also known that Google plans to introduce a debit card.
GoogleCard
The leak revealed that Google is working on a new banking service. Techtrunch has released photos showing physical and past debit cards that can be associated with a checking account, allowing users to buy physical and digital.
This new card will be part of your first evolution of your "Google Pay" platform, compete directly with not only Apple, but with all other companies that already offer similar services. To expand the use of Google Pay and explore a new branch of finance.
The Google card is almost real, it will require a valid confirmation and nothing else. However, considering the leakage of this new product, the company mentioned in a discussion with The Wall Street Journal.
"We are investigating how to partner with banks and unions in the US. Providing smart checking accounts with Google Pay, helping your clients find effective information and spending tools, while saving their money in a FDIC or NCUA-protected account Our key partners today are Citi and Stanford Federal Credit Union, and we hope to share more details in the coming months.
What will the Google Card do?
Google's card design and application is not the last. Overall you can see that in their plans they will maintain a simple and minimalist style that separates the company. There will be an image of the corresponding bank and the app will have some basic features for using the card and daily banking system.
There are details of how the user will be able to access all bank details from the app. Use Google Pay, buy online, with physical card and mobile payments.
Currency transfers and cash transfers will, and safely, over old passwords, have a PIN and a fingerprint. You will see places for payment to be made again In the event of suspected identity theft or loss of card, it can be blocked on the phone, update the virtual card number and restrict valid transactions such as purchases and transfers.
In addition, there is also a category of privacy, perhaps the user will decide which information will be available to companies or that will be collected. Nothing is known yetWhat is certain is that this can disrupt the transaction, since the owner will have the power to hide or refuse information that pleases the business.
Technology companies are betting on a new financial product
All of this is very important. While the Apple Card is a credit card, the Google Card can be a debit card. It's a huge difference in usage and market, because while Apple offers its card benefits like interest-free months when you buy an iPhone because it offers cash, the Google Card must be associated with a personal account. I mean the user must have an account with their own funds in order to use it.
The attractiveness of this card can certainly be a popular reach. You are expected to be some additional benefits as a result of the cooperation it has with other companies and businesses, the availability it can offer when paying for GooglePlay and its other services.
However they are only guesses and ideas for this card that may eventually become it. Financial products are known as potential sources, but also difficult to fund. We'll see if Google manages to reinforce its new card at this branch and attract a market that Apple hasn't even been able to reach yet..
